The idea that the pursuit of private self-interest by consumers and firms also promotes the public interest is called
A) roundabout production.
B) the circular flow.
C) opportunity cost.
D) the invisible hand.
E) innovation.

Question

Quizplus · Accepted Answer

The idea that pursuing self-interest ultimately benefits society as a whole is described by Adam Smith as the "invisible hand" in his book, "The Wealth of Nations".

The Idea That the Pursuit of Private Self-Interest by Consumers