Adam Smith's Invisible Hand Refers to

question 149

Multiple Choice

Adam Smith's invisible hand refers to

• A)the government's unobtrusive role in ensuring that the economy functions efficiently.
• B)property ownership laws and the rule of the court system.
• C)the process by which individuals acting in their own self-interest bring about a market outcome that benefits society as a whole.
• D)the laws of nature that influence economics decisions.

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Definitions:

Perfect

Describes a state or condition that is flawlessly excellent, complete, and lacking in no essential detail.

Self-Confident

Possessing assurance in one’s own abilities, qualities, and judgment, often leading to greater assertiveness and resilience.

Conceited

Having or showing an excessively high opinion of oneself; overly proud or self-important.

Permissive Parents

are characterized by a parenting style that is lenient, with few demands and minimal control over their children.