Multiple Choice
The idea that the desires of resource suppliers and firms to further their own self-interest will automatically further the public interest is known as
A) consumer sovereignty.
B) the invisible hand.
C) derived demand.
D) creative destruction.
Correct Answer:
Verified
Correct Answer:
Verified
Q165: One major element of the command system
Q166: International specialization and trade<br>A) must be done
Q167: Refer to the provided figure. If box
Q168: Laissez-faire capitalism is characterized by<br>A) a very
Q169: If economic profits in a particular industry
Q171: A required element for specialization to lead
Q172: "Consumer sovereignty" refers to the<br>A) fact that
Q173: In a market economy, the incomes of
Q174: Suppose that an individual sees a tremendous
Q175: In a market system, a firm's employees