According to Adam Smith, the success of decentralized market economies is primarily due to a. the basic benevolence of society. b. society’s legal system. c. individuals’ pursuit of self-interest. d. partnerships that are forged between business and gover

The correct answer is c. individuals' pursuit of self-interest. Adam Smith was a philosopher and economist who believed that the success of decentralized market economies was due to individuals pursuing their own self-interest. He argued that when people are free to follow their own desires and interests, they will seek out opportunities to exchange goods and services with others, which creates a market economy. This, in turn, leads to competition and innovation, which drives economic growth and prosperity. Smith believed that a laissez-faire approach to the economy, in which the government plays a minimal role and individuals are free to pursue their own self-interest, would lead to the greatest economic benefits for society as a whole.