In a competitive market economy, firms and resource suppliers will seek to further their own self-interest, but at the same time, as if guided by an "invisible hand," they will promote the public interest.

Question

Quizplus · Accepted Answer

This statement reflects the concept of Adam Smith's "invisible hand," which suggests that individual pursuit of self-interest in a competitive market can lead to benefits for society as a whole.

In a Competitive Market Economy, Firms and Resource Suppliers Will