Statement I: Adam Smith believed the key to wealth for a nation was self-sufficiency.
Statement II: Adam Smith believed what made sense in the conduct of a private family's economic endeavors also made sense for those of a nation.

A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.

Adam Smith

An 18th-century Scottish economist and philosopher, best known for his theories on free market economics and the 'invisible hand' concept.

Self-sufficiency

The ability of an individual, household, or country to meet all their needs without external assistance or international trade.

Economic Endeavors

Various activities or efforts aimed at the production, purchase, or sale of goods and services in an economy.