What does the "invisible hand" refer to
A)the marketplace guiding the self-interests of market participants into promoting general economic well-being
B)the marketplace as a place where government looks out for the interests of individual participants in the market
C)the equity that results from market forces allocating the goods produced in the market
D)the automatic maximization of consumer surplus in free markets

Question

Quizplus · Accepted Answer

The "invisible hand" refers to the idea that the self-interests of market participants will guide market forces, leading to the promotion of general economic well-being. It was famously coined by economist Adam Smith in his book "The Wealth of Nations."

What Does the "Invisible Hand" Refer to