Which of the Following Is a Major Implication of the Invisible

question 321

Multiple Choice

Which of the following is a major implication of the invisible hand concept?

• A) When directed by competitive market prices, the actions of self-interested individuals will tend to promote overall economic prosperity.
• B) Prosperity cannot be achieved unless the selfish nature of people can be changed.
• C) Competition is harmful to the health of an economy because it results in wasteful duplication.
• D) Government-operated firms tend to have higher efficiency and lower costs than private sector firms.

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Definitions:

Positive Psychological Attributes

Traits or qualities of an individual that contribute to their overall psychological well-being, such as optimism, resilience, and gratitude.

Confidence

A belief in one's abilities and qualities, often leading to a sense of self-assurance and assertiveness.

Resilience

The capacity of individuals, systems, or organizations to recover quickly from difficulties; toughness.

Authentic Leadership

A leadership style that emphasizes genuineness, integrity, and transparency, encouraging leaders to be true to themselves and their values.