The Concept of "Invisible Hand" Introduced by Adam Smith Explains

question 11

Multiple Choice

The concept of "invisible hand" introduced by Adam Smith explains:

• A)why people act in their own best interests.
• B)why the government intervenes to overcome failures in private markets.
• C)how people,acting out of self-interest,unintentionally promote the general good.
• D)how comparative advantage and specialization promote international trade.
• E)how the creation of goods and services generates its own demand by creating employment and income.

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Definitions:

Consumer Is King

A business philosophy emphasizing the importance of understanding and satisfying the needs and preferences of consumers to ensure success.

Era

A distinct period of history marked by notable events, characteristics, or developments.

Relationship

A connection or association between two or more people, entities, or concepts.

Marketing

The process of promoting, selling, and distributing a product or service, including market research and advertising.