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mr_godi [17]
3 years ago
5

The phrase "invisible hand" means that:

Business
1 answer:
never [62]3 years ago
4 0

Answer:

The correct answer is letter "B": The tendency of competition to cause individuals and firms to unintentionally promote the interests of society.

Explanation:

In his book "<em>An Inquiry into the Nature and Causes of the Wealth of Nations</em>" (1776), British economist Adam Smith (1723-1790) introduced the term "invisible hand" to refer that economic factors (buyers and sellers) naturally influence in the fluctuations of supply and demand without the need for the intervention of the government.  

According to Smith, buyers and sellers interactions act as an "invisible hand" arranging proper levels of competition between businesses and promoting the best interest of societies.

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2 years ago
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