In Adam Smith's Competitive Market Economy, the Question of What

question 52

Multiple Choice

In Adam Smith's competitive market economy, the question of what goods to produce is determined by the:

• A) "invisible hand" of the price system.
• B) "invisible hand" of government.
• C) "invisible hand" of public interest.
• D) "visible hand" of laws and regulations.

---

Definitions:

Emotional Support

Assistance provided through empathy, concern, encouragement, and companionship to help someone cope with stress, challenges, or emotional distress.

Social Needs

Fundamental human desires for belonging, love, and affections within their social groups or communities.

Informal Structures

The unofficial and tacit social networks, relationships, and ways of working within an organization.

Organization Structure

The system of roles, responsibilities, and relationships within an organization that determines how it operates and makes decisions.