1. according to smith, what was the advantage of
investing in a joint stock company?
(a) they tended to be run by experts who could make
the wisest decisions on behalf of the stock holders.
(b) there was no risk associated with joint-stock
companies so they were preferable to investments
in property.
(c) the directors were chosen by the stock holders and
were therefore accountable to the investors.
(d) sharing the risk of investing with a group relieved
some of the stress of speculation.