Which of the following statements is correct?
A)Markets are organized by the "invisible hand" of price mechanisms, whereas firms are organized by the "visible hand" of management
B)Markets are organized by the "visible hand" of price mechanisms, whereas firms are organized by the "invisible hand" of management
C)Firms and markets are two institutions that comprise the capitalist economy
D)Answers a and c

Question

Quizplus · Accepted Answer

Markets are indeed organized by the "invisible hand" of price mechanisms, and firms are organized by the "visible hand" of management. Additionally, both firms and markets are key institutions in a capitalist economy.

Which of the Following Statements Is Correct