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According to Adam Smith, the ideal economic environment for a

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Re: According to Adam Smith, the ideal economic environment for a [#permalink]
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(A) SVA issue: "open competition among producers yield" should be "...yields".
(B) See above
(D) "manufactured and sold at the lowest possible prices" modifier "consumers", resulting in a scenario that has yet to become a reality.
(E) In GMAT, "where" can only modify a physical location, not a structure or a scenario.
Besides, "they" in "but they" can refer to "consumers", resulting in a scenario that has yet to become a reality.
Moreover, "but" in "but they" introduces an unexpected contrast.
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Re: According to Adam Smith, the ideal economic environment for a [#permalink]
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IMO C took me roughly 1 min

Where is used for places and in which used to define a metamorphic place, a Phenomenon , Situations, Time period, etc.
In this sentence we are referring to structure and hence we will require in which instead of where.

Hence Options A E are gone -

B) a structure in which open competition among producers yield the best products for consumers, and they are manufactured and sold at the lowest possible prices. - We need Yields.

C) a structure in which open competition among producers yields the best products for consumers—products manufactured and sold at the lowest possible prices. This is our answer. Also the hyphen is correctly put next to the best products for consumers as the part after hyphen is giving more information on Products.

D) a structure in which open competition among producers yields the best products for consumers manufactured and sold at the lowest possible prices. - Meaning error.
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Re: According to Adam Smith, the ideal economic environment for a [#permalink]
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According to Adam Smith, the ideal economic environment for a society is free-market capitalism, a structure where open competition among producers yield the best products for consumers, manufactured and sold at the lowest possible prices.

A) a structure where open competition among producers yield the best products for consumers, manufactured and sold at the lowest possible prices.
1. Wrong use of where. Free market capitalism properly is not a physical structure/place.
2. Wrong use of yield. Subject for yield is singular 'open competition' and not 'producers'.
3. What manufactured and sold?: Subject for both the actions is ambiguous.

B) a structure in which open competition among producers yield the best products for consumers, and they are manufactured and sold at the lowest possible prices.
1. Wrong use of yield. Subject for yield is singular 'open competition' and not 'producers'.
2. They are manufactured and sold?: Pronoun They has no proper antecedent.

C) a structure in which open competition among producers yields the best products for consumers—products manufactured and sold at the lowest possible prices.
No Remarks, All the above errors is adressed here.

D) a structure in which open competition among producers yields the best products for consumers manufactured and sold at the lowest possible prices.
1. What manufactured and sold?: Subject for both the actions is ambiguous.

E) a structure where open competition among producers yields the best products for consumers, but they are manufactured and sold at the lowest possible prices.
1. They are manufactured and sold?: Pronoun They has no proper antecedent.

IMO C
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Re: According to Adam Smith, the ideal economic environment for a [#permalink]
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According to Adam Smith, the ideal economic environment for a society is free-market capitalism, a structure where open competition among producers yield the best products for consumers, manufactured and sold at the lowest possible prices.

A) a structure where open competition among producers yield the best products for consumers, manufactured and sold at the lowest possible prices. -> "where" is required for a location or place. And, we have "open competition......yield.." is having SVA error. Incorrect.

B) a structure in which open competition among producers yield the best products for consumers, and they are manufactured and sold at the lowest possible prices. -> same SVA error as A. Incorrect.

C) a structure in which open competition among producers yields the best products for consumers—products manufactured and sold at the lowest possible prices. -> It is better and we have clear meaning. Let's keep it.

D) a structure in which open competition among producers yields the best products for consumers manufactured and sold at the lowest possible prices. -> does "consumers manufactured and sold at the lowest possible prices". It is not the intended meaning. Incorrect.

E) a structure where open competition among producers yields the best products for consumers, but they are manufactured and sold at the lowest possible prices. -> Same error as A. Incorrect.

So, I think C.
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C imo is the correct answer.

In option A and E use of relative pronoun where is not correct. Where should refer to a place and in this option it is referring to some structure, which is not a place. Use of In which would be appropriate.
In option B and they are manufactured refers to the ideal economic environment , changing the original meaning. Products are manufactured not economic environment.
In option D manufactured wrongly modifies consumers. Consumers can never be manufactured. It is completely senseless !!
So by POE C is correct.
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Re: According to Adam Smith, the ideal economic environment for a [#permalink]
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According to Adam Smith, the ideal economic environment for a society is free-market capitalism, a structure where open competition among producers yield the best products for consumers, manufactured and sold at the lowest possible prices.

A) a structure where open competition among producers yield the best products for consumers, manufactured and sold at the lowest possible prices.
yield should yields because open competition is singular. Eliminate.

B) a structure in which open competition among producers yield the best products for consumers, and they are manufactured and sold at the lowest possible prices.
yield should yields because open competition is singular. Eliminate.
The they is not problematic if you think so because there is only one logical referent i.e Products.
You cannot say that they can also refer to producers/consumers. This type of reference is illogical.

C) a structure in which open competition among producers yields the best products for consumers—products manufactured and sold at the lowest possible prices.
S-V agreement reached.
Usage of em-dash is giving extra information about how consumers are getting benefited.Keep.

D) a structure in which open competition among producers yields the best products for consumers manufactured and sold at the lowest possible prices.
Consumers manufactured and sold at the lowest possible prices.
What the heck ?? Eliminate

E) a structure where open competition among producers yields the best products for consumers, but they are manufactured and sold at the lowest possible prices.
We are not showing contrast in the sentence at all.
Usage of but is incorrect.

IMO C.
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Re: According to Adam Smith, the ideal economic environment for a [#permalink]
The official explanation is here.
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Re: According to Adam Smith, the ideal economic environment for a [#permalink]
generis wrote:

• Past participles (verbED words)

On the GMAT, can modify only the immediately preceding noun, whether the participle (verbED) is preceded by a comma or not.

In SWE, the situation is a little different.
Past participles that are not preceded by a comma do indeed modify the immediately preceding word, as is the case in option D.
But past participles that are preceded by a comma are allowed to modify entire clauses. Not so on the GMAT—yet.

I say "yet" because this GMAC guideline differs from the analogous rule in almost every other grammar or style book.
I do not recall ever having seen an exception in an official question, but this area may be "ripe for change."
Takeaway? If the other four answers are horrible and you see [COMMA + PAST PARTICIPLE] modifying an entire previous clause in the fifth answer and it makes sense, pick that answer.

Thanks for the detailed explanation, generis.
Question: What does "SWE" stand for?
Re: According to Adam Smith, the ideal economic environment for a [#permalink]
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