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How does Adam Smith's concept of the invisible hand explain why markets move toward equilibrium?

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Darryn D'Souza
Darryn D'SouzaLv10
28 Sep 2019

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Related questions

What is the defination of Adam Smith's Invisible Hand?

What goods to produce is determined by _____  in accordance with Adam Smith's competitive market economy?

A. "invisible hand" of government

B. "invisible hand" of the price system

C. "visible hand" of laws and regulations

D. merely decisions of producers

 

Adam Smith's invisible hand refers to:

a. The subtle and often hidden methods that businesses use to profit at consumers' expense.

b. The ability of free markets to reach desirable outcomes, despite the self-interest of market participants. 

c. The ability of government regulation to benefit consumers, even if the consumers are unaware of the regulations. 

d. The way in producers or consumers in unregulated markets impose costs on innocent bystanders. 

 

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