Answer:
C. producers work together to increase prices
Explanation:
The concept of the invisible hand in economics was introduced by the classical economist Adam Smith, who is considered the father of economic liberalism. According to Smith, men have a natural selfish tendency and will seek to satisfy their own needs through trade in goods and services. Thus a positive effect of each man's selfish and individual attitudes will be felt in the economy. When everyone seeks their benefits, the wheel of economics spins. This is what Smith calls the invisible hand.
Consumers will demand goods and services according to their needs. Business owners, seeking to increase their wealth, will provide consumers with the most desired products. Consumers are rational and tend to buy goods from those they provide at a lower price.
Thus competition is a central element by which Smith justifies the invisible hand. The act of union of producers is considered a cartel, something contrary to the mechanisms of competition and therefore does not fit the metaphor of the invisible hand.
The Homestead Act had these effects: new states were added to the Union; The population grew in the territories; The cattle-ranching industry grew.
What's the Homestead Act?
On May 20, 1862, during the Civil War, the Homestead Act was passed. This legislation's primary goals are to support the economy and native Americans.
In 1862, the Homestead Act was adopted. They change life of American natives. Development in the economy and growth of industries.
The Homestead Act of 1862 attracted homesteaders and cattle ranchers and demonstrated that farmers in the Northern Great Plains might be prosperous. Petitions for statehood as the population grew in size, built more homes, and started herding cattle.
As a result, this options are correct such as new states were added to the Union; The population grew in the territories; The cattle-ranching industry grew.
Learn more about on Homestead Act, here:
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In the State of the Union Address the President of the United States promised to improve the faltering economy, to increase the amount of federal fundingavailable for art programs, and B. promised to lower taxes on public sector workers.
