Which of the Following Best Summarizes the Essence of the Invisible

question 56

Multiple Choice

Which of the following best summarizes the essence of the Invisible Hand Theorem?

• A) Competitive markets guarantee that any shortages or surpluses existing in an economy will be quickly eliminated.
• B) Of all the possible economic systems,competitive markets are the most philosophically compatible with democracy and freedom.
• C) Within competitive markets,people who selfishly pursue their own interests end up achieving a socially desirable outcome.
• D) The social gain created by competitive markets is second only to what a hypothetical benevolent dictator could achieve.

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Definitions:

Completing A Survey

The act of answering questions or filling out a questionnaire designed to collect data on a specific topic or set of topics for analytical purposes.

Ethnographic Interview

A qualitative research method involving interactive interviews in the natural settings of the participants, aiming to gather deep insights into cultural practices, beliefs, and social interactions.

Knowledge

Information, understanding, and skills acquired through experience or education; the theoretical or practical understanding of a subject.

Attitudes

Mental and emotional entities that embody an individual's degree of like or dislike for an item, which influence their thoughts and behavior toward it.