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 idea that the desires of resource suppliers and firms to further their own self-interest will automatically further the public interest is known as the invisible hand. It means that by pursuing their own interests, individuals and firms will unknowingly promote the general welfare of society as a whole.

The Idea That the Desires of Resource Suppliers and Firms