The Invisible Hand Refers to

question 50

Multiple Choice

The invisible hand refers to

• A) Intervention in the economy by the government bureaucrats we do not see and over whom we have no control.
• B) Undiscovered natural resources.
• C) The allocation of resources by market forces.
• D) The person who has the responsibility to coordinate all the markets in a market economy. Resources are allocated efficiently as if directed by an unseen force.

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Definitions:

Underlying Drives

Fundamental motivations or impulses that influence behavior and decision-making.

Health Insurance

Financial protection that covers the cost of an individual's medical and surgical expenses based on the type of insurance coverage secured.

Psychotherapy

Psychotherapy is a form of treatment for mental health issues which involves talking with a mental health professional to understand and change problematic thoughts, feelings, and behaviors.

HMOs

Health Maintenance Organizations, which are medical insurance groups that provide health services for a fixed annual fee, emphasizing preventive care.