In 1776 Adam Smith’s work, The Wealth of Nations, is mainly a description of how: (1) democratic socialism is more efficient than totalitarianism. (2) self interest is coordinated within a market system. (3) barriers to international trade make easy economic development. (4) real estate investment is the surest path to riches. (5) economic processes work while people behave cooperatively.
Can anybody suggest me the proper explanation for given problem regarding Economics generally?