The invisible hand promotes society's interests because
A) individuals pursuing their self-interest will try to produce goods and services that people in society want and are willing to purchase.
B) individuals will produce goods for others out of concern for their fellow human beings.
C) it makes sure that everyone wins from competition in the market.
D) government regulation pushes business into producing the right mix of goods and services.

Question

Quizplus · Accepted Answer

The concept of the invisible hand, introduced by Adam Smith, suggests that individuals pursuing their own self-interest in the marketplace will inadvertently promote the interests of society as a whole. This is because producers will try to make and offer goods and services that people in society want and are willing to purchase, leading to efficient allocation of resources and overall economic growth.

The Invisible Hand Promotes Society's Interests Because