Question

The idea that "the invisible hand" of competition sets prices and determines quantities produced in a market economy was the principle idea of __________.Select one of the options below as your answer:
a. Karl Marx
b. Adam Smith
c. George Washington
d. Thomas Jefferson

Answer 1

Answer:

B. Adam Smith

Explanation:

Answer 2

The idea that "the invisible hand" of competition sets prices and determines quantities produced in a market economy was the principal idea of B.) ADAM SMITH.

Invisible hand is said to be the metaphor Adam Smith used in referring to unintended social benefits that resulted from individual's actions.