Question

Which best describes the idea behind the "invisible hand"? producers decide what to make for consumers, which guides the economy. individuals seeking their own self interest benefit the economy as a whole. government sets policy for producers and consumers, which guides the economy. consumers decide what they need and want to buy, which guides the economy.

Answer 1

The invisible hand is the phrase initiated by Adam Smith as the economic theory. The idea behind the invisible hand has been the development of the policy by the government guiding the economy.

Who was Adam Smith?

Adam Smith was the Scottish economist of the eighteenth century. In his book,  "The Wealth of Nations" he introduced the phrase the invisible hand.

The idea has been the development of the policies by the government as the invisible hand for the producers and the consumers that made the guide to the economy.

Learn more about the invisible hand, here:

brainly.com/question/3078419