The Invisible Hand Principle, as Developed by Adam Smith in the Wealth

question 582

Multiple Choice

The invisible hand principle, as developed by Adam Smith in The Wealth of Nations, states that

• A) government control over economic activity is essential for the talents of individuals to be directed toward their highest valued use.
• B) the economic wealth of a nation is determined by a nation's holdings of precious metals, such as gold and silver.
• C) public policy should prohibit domestic producers from selling their goods to foreigners.
• D) competitive markets will bring individual self-interest and the public interest into harmony.

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Definitions:

Rapid Assessment

A quick evaluation or analysis of a situation or system to gather essential information efficiently.

Reliable

The quality of being consistently good in performance, accuracy, or dependability.

Valid

Well-founded on evidence and logic, or meeting the relevant criteria or standards.

Executive Director

An Executive Director is the top executive responsible for managing the operations and activities of an organization or non-profit, ensuring it meets its strategic goals.