Asked by Rebecca Lovato on Jul 02, 2024
Verified
The originator of the idea of the invisible hand, which is a fundamental concept in free market capitalism, was
A) Adam Smith.
B) Archie Carroll.
C) Jack Ma.
D) Noel Biderman.
E) Milton Friedman.
Invisible Hand
A metaphor used by economist Adam Smith to describe the self-regulating behavior of the marketplace.
Adam Smith
An 18th-century Scottish economist and philosopher, often considered the father of modern economics, known for his theories on free markets, capitalism, and the "invisible hand."
- Comprehend the basic principles related to the purpose of business and its role in society, encompassing viewpoints from prominent economic thinkers.
Verified Answer
KB
Kyndall Brewer7 days ago
Final Answer :
A
Explanation :
The idea of the invisible hand, which suggests that an individual's pursuit of self-interest can ultimately benefit society as a whole, was first introduced by Adam Smith in his book "The Wealth of Nations."
Learning Objectives
- Comprehend the basic principles related to the purpose of business and its role in society, encompassing viewpoints from prominent economic thinkers.