The Invisible Hand Refers To

question 63

Multiple Choice

The invisible hand refers to:

• A)the coordination that occurs from everyone working in their own self-interest.
• B)the coordination that occurs from a government agency finding efficiencies.
• C)the coordination that occurs from everyone working for the overall good of society.
• D)the coordination that occurs from a government coordinating economic activity.

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Definitions:

Acceptance

Within the realm of contract law, the process by which one accepts the conditions of a proposal, thus forming a legally binding agreement.

Draft

A preliminary version of a piece of writing or a plan for something, subject to revisions or edits.

Breach of Warranty

The violation of a guarantee or promise regarding the quality or condition of a product.

Bearer Note

Bearer Note is a type of negotiable instrument, the benefits of which are payable to whoever holds the note, making it transferable by mere delivery.