The Idea That Firms and Resource Suppliers in Seeking to Further

question 13

Multiple Choice

The idea that firms and resource suppliers in seeking to further their own self-interests in a competitive market economy also simultaneously promotes the public or social interest is a description of:

• A)the guiding function of prices.
• B)capital accumulation.
• C)the "invisible hand."
• D)dollar votes.

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Definitions:

Chronological Age

The actual age of an individual measured in years from the date of birth to the current date.

Charles Spearman

An early 20th-century psychologist who is best known for his work in intelligence, including the theory that a general intelligence factor underlies all cognitive abilities.

Intelligence

The skill to grasp, interpret, and employ data, tackle issues, and adapt to changes in circumstances.

Charles Spearman

A British psychologist known for his work in statistics and intelligence theory, notably for his proposal of the g factor, or general intelligence.