Fourteen years ago, Sergio noticed that a lot of people who bought personal computers did not know much about how to use them and frequently suffered system crashes and other aggravations. He decided he could earn a nice profit by starting a consulting business to help other people overcome their computer woes. Although the business struggled at first, it has experienced a good deal of success for the past five years. Sergio has many satisfied customers, and the business has grown to the point where he now employs several workers. Sergio's experience is an example of:

Question

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Sergio's experience exemplifies the concept of the invisible hand, which refers to the idea that individuals pursuing their own self-interest can unintentionally and collectively promote the greater good of society through the free market system. Sergio recognized a need within the market and acted upon it, ultimately creating a successful business that benefits both himself and his customers. This success is not due to any central planning or intervention but rather the natural forces of supply and demand.

Fourteen Years Ago, Sergio Noticed That a Lot of People