According to the invisible hand concept,the best way for a society to encourage the creation of jobs and the production of the products most wanted by consumers would be to:
A)Permit government owned industries,such as telecommunications,transportation,and energy,and operate these firms as nonprofit organizations.
B)Allow private ownership of businesses,but make use of extensive regulation to force businesses to behave in a socially desirable way.
C)Allow entrepreneurs personal freedom to follow their own self-interest.
D)Impose high taxes on individuals,and use the revenue to subsidize businesses to encourage them to produce the maximum rate of output.

Question

Quizplus · Accepted Answer

According to the invisible hand concept, allowing entrepreneurs personal freedom to follow their own self-interest is the best way for a society to encourage the creation of jobs and the production of the products most wanted by consumers. This means allowing the market to operate with minimal interference from government regulations, as entrepreneurs will naturally be incentivized to meet consumer demand and create jobs in order to maximize their profits.

According to the Invisible Hand Concept,the Best Way for a Society