The three main ideas behind capitalism as defined by adam smith are

Three main ideas behind capitalism are followings:

1. Self-interest

2. Competition

3. laissez-faire.

Explanation:

Adam smith is known as the father off modern economics.

Adam Smith stated the best economic benefit for an individual achieves when an individual acts in their self- interest only.

Adam Smith said both competition and self-interest are important forces for economic, Competition regulates the economic activity and self- interest motivates economic activity.

These are the invisible hands of economics.

Laissez-faire capitalism means free-market economy no intervention of government in business activity except to protect individual rights.

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