According to Adam Smith

question 173

Multiple Choice

According to Adam Smith

• A)government intervention in markets is not desirable because an invisible hand leads decisions made in pursuit of self-interest to unintentionally promote the social interest.
• B)in a market transaction buyers can either get what they want for less than they would be willing to pay or sellers can make a profit,but both buyers and sellers can't gain simultaneously.
• C)politicians are well-equipped to regulate corporations and intervene in markets to improve market outcomes.
• D)when big corporations pursue their self-interest of maximum profit,they will inevitably conflict with social interest.
• E)the self-interest and the social interest never conflict.

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Definitions:

Goal Object

The target or object of a person's ambition or effort; an aim or desired result.

Cathexis

Refers to the concentration of emotional energy on a particular object, individual, or idea.

Single-Trial Learning

Learning that occurs in one exposure to a stimulus, typically seen in situations with significant emotional or survival importance.

Complex Behavior

Actions or series of actions that involve multiple steps, decision-making processes, or behaviors that demonstrate a level of sophistication and are often learned rather than instinctual.