Adam Smith Formulated the Invisible Hand and the Free Market

question 56

Multiple Choice

Adam Smith formulated the invisible hand and the free market to explain the motivation for individual behaviors.The invisible hand refers to:​

• A)​the variables within an individual that lead to motivation and behavior.
• B)the desire to influence others, the urge to change people or events, and the wish to make a difference in life.​
• C)the work conditions related to satisfaction of the need for psychological growth.​
• D)the unseen forces of a free market system that shape the most efficient use of people, money, and resources for productive ends.​

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Definitions:

Interviews

A method of data collection involving direct, face-to-face conversation or questioning between interviewer and respondent to gather information.

Collect Data

The process of gathering information or variables of interest in a structured way to answer questions or analyze a situation.

Observational

Relating to the collection of data by observing and measuring phenomena as they occur naturally, without intervention.

Experimental

Pertaining to an investigational method that involves manipulating variables to study cause and effect relationships.