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:

Elect

To choose or decide on a candidate or proposal by voting, often used in the context of selecting government officials or adopting measures in democratic systems.

Damned

Generally refers to something that is condemned, often used in religious contexts to refer to those believed to be condemned by a deity to suffer eternal punishment.

Contract with God

Often considered one of the earliest graphic novels, created by Will Eisner, depicting the lives of Jewish characters in New York City.