According to the Invisible Hand Concept, the Best Way for a Society

question 24

Multiple Choice

According to the invisible hand concept, the best way for a society to encourage the creation of jobs and the production of the products most wanted by consumers would be to:

• A) permit government owned industries, such as telecommunications, transportation, and energy, and operate these firms as nonprofit organizations.
• B) allow private ownership of businesses, but make use of extensive regulation to force businesses to behave in a socially desirable way.
• C) allow entrepreneurs personal freedom to follow their own self-interest.
• D) impose high taxes on individuals, and use the revenue to subsidize businesses to encourage them to produce the maximum rate of output.

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Definitions:

Source Amnesia

A memory disorder where an individual can remember information but cannot recall how or where they came to know it.

Kidnapping

The unlawful abduction and restraint of a person against their will, typically with the aim of demanding ransom or committing further crime.

Vivid

Describes bright, intense, or clear imagery or memories, often leaving a strong impression.

Memory

The cognitive process of encoding, storing, and retrieving information.