Which of the Following Best Describes the Invisible-Hand Concept

question 134

Multiple Choice

Which of the following best describes the invisible-hand concept?

• A)The desires of resource suppliers and producers to further their own self-interest will automatically further the public interest.
• B)The inability to substitute resources creates a conflict between private and public interests and calls for government intervention.
• C)The market system is the best system for overcoming the scarce resources-unlimited wants problem.
• D)Central direction by the government will improve resource allocation in a capitalistic economy.

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Definitions:

Corporate Misbehavior

Describes unethical or illegal actions taken by companies or their representatives.

Corporate Management

Corporate management involves the processes, strategies, and decisions employed in directing and controlling the operations of a corporation to achieve its objectives and maximize shareholder value.

Labor Unions

Organizations formed by workers to protect their rights and interests in their employment.

Justice Theorist

A scholar or philosopher who studies the principles of justice, exploring concepts such as fairness, equality, and moral rightness in society.