What does the invisible hand mentioned by Adam Smith do? a. Leads selfish manage

Question

What does the invisible hand mentioned by Adam Smith do?

a. Leads selfish managers of firms to cooperate with managers to collude and cooperate with managers of other firms, to benefit society. Guides altruistic people who truly care about others to benefit society

b. Leads the government to benefit society

c. Guides altruistic people who truly care about others to benefit society

d. Leads selfish people to cause conflict which hurts society

True/False: Adam Smith argued that "greed is always good" for society.

True/False: A kickback requires one person to spend the money of others

Explanation / Answer

The answer is B -) Leads the government to benefit society.

Because, Adam Smith assumed that economy will work good where everyone is free and and work for thier own self interest. He explained that economy will work great if the government will leave poeple alone to free in the market to buy and sell alone according to thier interest.. He tell that when the people allowed free trade, then the self interest traders will compete each other in the market , which leads the to the positive outcome.

B) FALSE - NO, Adam Smith didn't argued that "greed is always good" for society.

C) FALSE.

Related Questions

Navigate

• Browse (All)
• Browse W
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.