Which of the following statements is true?

Question

Quizplus · Accepted Answer

Adam Smith, not Karl Marx, coined the term "the invisible hand" to describe the self-regulating nature of the market. Karl Marx wrote "Das Kapital," not Adam Smith. Marx indeed believed that the state would eventually wither away, leading to a classless society, which he referred to as a worker's paradise. Adam Smith argued that individuals pursue their own interests, which, through the operation of the market, can lead to the public good, but he did not suggest this pursuit was unselfish.

Which of the Following Statements Is True