What type of economic system is commonly described as being controlled by an "invisible hand"?
A) a traditional economy
B) a command economy
C) a market economy
D) a communist economy

Question

Quizplus · Accepted Answer

A market economy is commonly described as being controlled by an "invisible hand," which refers to the self-regulating nature of the market where supply and demand determine prices and production. The individuals and firms in the market act in their own self-interest, but the overall outcome benefits society as a whole.

What Type of Economic System Is Commonly Described as Being