A Basic Premise of Adam Smith's Invisible Hand Argument Is

question 3

Multiple Choice

A basic premise of Adam Smith's invisible hand argument is

• A)human beings try to avoid acquisitive behavior.
• B)when people are left to pursue their own economic interests,disaster looms.
• C)the division of labor,though good for the firm,reduces overall efficiency.
• D)We often get what we want from others by offering something they need from us.

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Definitions:

Minimal Standard

A basic level of quality or requirement that is considered acceptable under legal or regulatory guidelines.

Deontology

The ethical theory which states that an action can be determined as ethical on the basis of right and wrong, regardless of its consequences.

Public Disclosure Test

A legal standard used to determine whether information has been effectively communicated to the public, particularly in defamation and privacy cases.

Ethics Shapes

Suggests that ethical principles influence or determine the formation of personal values and behavior.