Here is a quote from The Wealth of Nations by Adam Smith:"It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own self-interest. We address ourselves not to their humanity but to their self-love, and never talk to them of our own necessities, but of their advantages."Does the point of view expressed by Smith help understand how markets function? Explain.

Yes, it helps how markets function.

Explanation:

A market is a place where buying and selling of goods or services take place. It can be in a physical location or it can be over the Internet.

The main goal of a seller is to make profit from sales, so a seller won't sell a watch he bought $10.50 for $5.50 because he wants to do good to the society.

He'll put into consideration his expenses and factor in his expected profit before setting a selling price.

Every seller of a good or provider of service is out to make a profit and not make a loss so he can improve his standard of living.

answerreactive approach;