The invisible hand refers to
A)Intervention in the economy by the government bureaucrats we do not see and over whom we have no control.
B)Undiscovered natural resources.
C)The allocation of resources by market forces.
D)The person who has the responsibility to coordinate all the markets in a market economy.

Question

Quizplus · Accepted Answer

The concept of the invisible hand refers to the market forces of supply and demand that allocate resources in a market economy. Decisions made by consumers and producers in pursuit of their own self-interest ultimately result in an efficient allocation of resources without the need for central planning or government intervention.

The Invisible Hand Refers to