According to the Invisible Hand Concept,the Best Way for a Society

question 224

Multiple Choice

According to the invisible hand concept,the best way for a society to encourage the creation of jobs and the production of the products most wanted by consumers would be to:

• A)Permit government owned industries,such as telecommunications,transportation,and energy,and operate these firms as nonprofit organizations.
• B)Allow private ownership of businesses,but make use of extensive regulation to force businesses to behave in a socially desirable way.
• C)Allow entrepreneurs personal freedom to follow their own self-interest.
• D)Impose high taxes on individuals,and use the revenue to subsidize businesses to encourage them to produce the maximum rate of output.

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Definitions:

North America

North America is a continent entirely within the Northern Hemisphere and almost all within the Western Hemisphere; it is composed of countries including but not limited to the United States, Canada, and Mexico.

Scenario Planning

A strategic planning method that organizations use to make flexible long-term plans, based on envisioning various future scenarios.

Contingency Planning

The process of preparing for unforeseen events or emergencies in business operations.

Changing Circumstances

Situations that evolve or shift, necessitating adjustments in plans, strategies, or behavior.