Which of the following observations was made famous by Adam Smith in his book The Wealth of Nations?
A) There is no such thing as a free lunch.
B) People buy more when prices are low than when prices are high.
C) No matter how much people earn, they tend to spend more than they earn.
D) Households and firms interacting in markets are guided by an "invisible hand" that leads them to desirable market outcomes.

Question

Quizplus · Accepted Answer

Adam Smith introduced the concept of the "invisible hand" in "The Wealth of Nations," suggesting that individuals pursuing their own self-interest in free markets can lead to positive societal outcomes.

Which of the Following Observations Was Made Famous by Adam