What was Adam Smith's economic theory?

Adam Smith was of the opinion that Government regulations were sort of an obstacle to the growth of the economy. Adam Smith believed that markets function best when there is no interference from the Government. You can read about the Demand and Supply – Concepts of Economy for UPSC in the given link.

Further readings:

  1. Commission for Agricultural Costs and Prices (CACP) – UPSC Notes
  2. Monetary System – Types of Monetary System (Commodity, Commodity-Based, Fiat Money)

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