Which observation was made famous by Adam Smith in his book The Wealth of Nations?
A) There is no such thing as a free lunch.
B) People buy more when prices are low than when prices are high.
C) People tend to spend more than they earn.
D) Markets are guided by an invisible hand that leads to desirable outcomes.

Question

Quizplus · Accepted Answer

Adam Smith is famous for his observation about the invisible hand in his book The Wealth of Nations. He argued that markets tend to self-regulate and lead to desirable outcomes without the need for government intervention.

Which Observation Was Made Famous by Adam Smith in His