The invisible hand refers to:
A)the coordination that occurs from everyone working in their own self-interest.
B)the coordination that occurs from a government agency finding efficiencies.
C)the coordination that occurs from everyone working for the overall good of society.
D)the coordination that occurs from a government coordinating economic activity.

Question

Quizplus · Accepted Answer

The concept of the invisible hand refers to the idea that the market economy tends to self-organize and allocate resources efficiently when individuals act in their own self-interest. This idea was popularized by economist Adam Smith, who believed that a self-regulating market system would lead to the greatest overall benefit for society.

The Invisible Hand Refers To