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:

Financial Advantage

A benefit that helps to improve a company's financial position, which can include lower costs, access to new markets, or additional revenues.

Financial Advantage

The benefit gained in financial terms, providing an edge over competitors or contributing to financial stability.

Outside Supplier

An external organization or company that provides goods or services to another company as opposed to internal sources.

Segment Margin

The amount of profit or loss generated by a particular segment of a business, after accounting for the direct and allocable expenses of that segment.