The Invisible Hand Principle Indicates That Competitive Markets Can Help

question 135

Multiple Choice

The invisible hand principle indicates that competitive markets can help promote the efficient use of resources

• A) only if buyers and sellers really care, personally, about economic efficiency.
• B) even when each market participant cares only about their own self interest rather than about the overall efficiency of resource use.
• C) even if business firms fail to produce goods efficiently.
• D) if, and only if, businesses recognize their social obligation to keep costs low and use resources wisely.

---

Definitions:

Program Development Life Cycle (PDLC)

The process of performing a programming project, which consists of five stages: describing the problem, making a plan, coding, debugging, and testing and documentation.

Machine Language

The sequence of bits that the CPU understands.

Source Code

The instructions programmers write in a higher-level language.

Fifth-generation Languages

Fifth-generation languages are programming languages that focus on solving problems using constraints given to the system, utilizing logic programming.