The idea that the desires of resource suppliers and firms to further their own self-interest will automatically further the public interest is known as
A)consumer sovereignty.
B)the invisible hand.
C)derived demand.
D)creative destruction.

Question

Quizplus · Accepted Answer

The concept of the "invisible hand," introduced by Adam Smith, suggests that individuals' pursuit of their own self-interest in free markets leads to economic efficiency and public benefits, as if guided by an invisible hand.

The Idea That the Desires of Resource Suppliers and Firms