Which of the Following Most Accurately Describes the Invisible Hand

question 12

Multiple Choice

Which of the following most accurately describes the invisible hand concept?

• A) Wise central planning by government is necessary for the efficient use of resources.
• B) In a democratic setting, majority rule will result in the efficient use of resources.
• C) In a market setting, when individuals pursue their own interests, they simultaneously tend to promote the public interest.
• D) In a market setting, when individuals pursue their own interests, they tend to engage in activities that lower the overall economic welfare of society.

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Definitions:

Specific

Distinct or particular to something, not general or vague, often used to describe detailed or focused elements in various contexts.

Measurable

The characteristic of being able to be quantified or assessed through metrics or data.

Realistic

Pertaining to or representing conditions as they actually are; practical and pragmatic in approach or assessment.

Broad

Encompassing a wide range or scope; not limited or narrow.