The Invisible Hand Principle Suggests That

question 377

Multiple Choice

The Invisible Hand Principle suggests that

• A) market prices direct individuals to produce more goods.
• B) individuals pursuing their own interests detract from the economic well-being of society.
• C) there should be stronger governmental initiatives to ensure cooperation for the betterment of society.
• D) market forces tend to channel the actions of self-interested individuals into activities that promote the general betterment of society.

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Definitions:

Database

A structured collection of data stored in a computer system, allowing for easy access, management, and updating of the data.

Human Resource Information System

A human resource information system is an integrated and increasingly automated system for maintaining a database regarding the employees in an organization.

Transaction Processing

Transaction processing involves the collection, processing, and storage of transactions through technology systems to ensure consistency and reliability in business operations.

Fleishman Job-Analysis

A method of job analysis focusing on the abilities and skills needed to perform a job, developed by Edwin Fleishman.