Adam Smith coined the term "invisible hand" to describe the process by which the actions of independent, self-interested buyers and sellers will:
A)always lead an economy to ruin.
B)often lead to the most efficient allocation of resources.
C)always lead to the most efficient allocation of resources.
D)often lead to increasing inequality.

Question

Quizplus · Accepted Answer

Adam Smith's theory of the invisible hand posits that the actions of independent, self-interested buyers and sellers will often (but not always)result in the most efficient allocation of resources.

Adam Smith Coined the Term "Invisible Hand" to Describe the Process