Adam Smith's insight was that prices adjust to guide individual buyers and sellers to reach outcomes where,in many cases,
A)opportunity cost is minimized for buyers.
B)scarcity is reduced for society.
C)well-being of society is maximized.
D)opportunity cost of production is maximized.

Question

Quizplus · Accepted Answer

Adam Smith believed that the invisible hand of the market, driven by self-interest and guided by prices, would lead to outcomes where the well-being of society is maximized.

Adam Smith's Insight Was That Prices Adjust to Guide Individual