The Principle of the "Invisible Hand" Claims That

question 51

Multiple Choice

The principle of the "invisible hand" claims that:

• A)the selfish pursuits of everyone's own interest will lead to the best good for all under market competition.
• B)government must gently guide economic activity so that the best for all will be attained.
• C)government policies work like an invisible hand, steering resources to their best use.
• D)producers must quietly cooperate so that prices are not so low as to cause losses.
• E)none of the above.

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Definitions:

Revolutions

Fundamental changes in political power or organizational structures that occur in a relatively short period of time.

Igbo Women

Female members of the Igbo ethnic group in Nigeria, known for their significant roles in society, culture, and the economy.

Politically

Pertaining to the affairs of government, public policies, or the administration of public affairs, often concerning the distribution of power and resources within a community or society.

Socially

Pertaining to or involving the interaction of individuals within a society or community.