When Adam Smith Said Economic Activity Was Directed by an "Invisible

When Adam Smith said economic activity was directed by an "invisible hand," he was referring to the fact that

A) competitive markets motivate altruistic individuals to pursue productive activities that only serve their private interests.
B) when economic activity is directed by competitive markets, the actions of self-interested individuals will generally serve the public interest.
C) invisible forces will lead to economic chaos unless wise central planning directs economic activity.
D) scarcity is largely the result of invisible forces that would be eliminated if individuals were free to pursue their own self-interests.

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free