When Feeding America changed its food allocation system to one that resembled a market,each food program was given a number of "shares" that they could use in bidding against other food programs for the types of food that best met the needs of the people using their programs.This is an example of how the market leads firms to provide consumers with the goods they want,which Adam Smith described by using the metaphor
A)the invisible hand.
B)ceteris paribus.
C)don't look a gift horse in the mouth.
D)don't bite the hand that feeds you.

Question

Quizplus · Accepted Answer

The metaphor used by Adam Smith to describe how the market leads firms to provide consumers with the goods they want is the "invisible hand". This metaphor refers to the way in which the actions of self-interested individuals in a market economy can lead to the overall well-being of society as a whole, without any central planning. Feeding America's food allocation system, which uses a market-based approach to allocate food to programs based on their needs and preferences, is an example of how the invisible hand can work in practice.

When Feeding America Changed Its Food Allocation System to One