Questions: Adam Smith defended the ethical goodness of free markets by arguing that people have certain natural rights which are better protected by free markets than by non-capitalistic economies, the competitive forces in a free market will have the consequence of maximizing society's overall utility, markets will always efficiently provide goods and services to consumers, free markets best allow us to express the care and compassion for other people that is deserved by everyone.

The answer is: the competitive forces in a free market will have the consequence of maximizing society's overall utility.

Explanation for each option:

1. People have certain natural rights which are better protected by free markets than by non-capitalistic economies:

   • This is not the primary argument Adam Smith made. While he did discuss natural rights, his main focus was on the benefits of competition and the invisible hand in free markets.

2. People have certain natural rights which are better protected by noncapitalistic economies than by free markets:

   • This is incorrect. Adam Smith was a proponent of free markets, not non-capitalistic economies.

3. The competitive forces in a free market will have the consequence of maximizing society's overall utility:

   • Correct. Adam Smith argued that the invisible hand of the market, driven by individuals pursuing their own self-interest, would lead to outcomes that benefit society as a whole, thus maximizing overall utility.

4. Markets will always efficiently provide goods and services to consumers:

   • While Adam Smith did believe in the efficiency of markets, he did not claim that markets will always provide goods and services efficiently without any exceptions. There are instances of market failures that he acknowledged.

5. Free markets best allow us to express the care and compassion for other people that is deserved by everyone:

   • This is not a central argument of Adam Smith. His focus was more on the economic benefits and efficiency of free markets rather than on moral or compassionate expressions.

6. The competitive forces in a free market will have the consequence of minimizing society's overall utility:

   • This is incorrect. Adam Smith argued the opposite, that competitive forces in a free market would maximize, not minimize, society's overall utility.