Multiple Choice
Which of the following best describes the "invisible hand" concept?
A) Ample regulation of business by the government will maximize the public's best interests.
B) The market system works best when resources are free to move from one use to another.
C) The problem of scarcity can best be overcome in a system of mixed capitalism.
D) Self-interest in a market system will automatically promote the public interest as well.
Correct Answer:
Verified
Correct Answer:
Verified
Q236: The simple circular flow model shows that<br>A)
Q237: In a market system, self-interest is the
Q238: The guiding function of prices tends to
Q239: The highly influential book by Adam Smith,
Q240: The problems of central planning become less
Q242: The most efficient combination of resources in
Q243: Competition is more likely to exist when<br>A)
Q244: Explain what is meant by a command
Q245: Adam Smith in his 1776 book the
Q246: In a market system, the "What will