An insight first fully developed by Adam Smith is that
A)all individuals are motivated solely by self- interest.
B)individual self- interest is the only necessary force for social order.
C)self- interest, not benevolence, is the foundation of economic order.
D)self- interest undermines effective economic order.
E)without benevolence production would not occur.

Question

Quizplus · Accepted Answer

Adam Smith argued that individuals pursuing their own self-interest can unintentionally benefit society as a whole by producing goods and services that others demand. This concept is known as the invisible hand, and it suggests that self-interest is the foundation of economic order rather than benevolence.

An Insight First Fully Developed by Adam Smith Is That