Adam Smith's metaphor of the "invisible hand" refers to the notion that:

Question

Quizplus · Accepted Answer

Adam Smith's metaphor of the "invisible hand" suggests that when individuals act in their own self-interest in a market economy, they unintentionally promote the good of society as a whole. This happens because competition among individuals and firms leads to innovation, efficiency, and lower prices, ultimately benefiting consumers and society. Therefore, choice B is the correct answer as it captures the essence of the invisible hand concept.

Adam Smith's Metaphor of the "Invisible Hand" Refers to the Notion