Answered

Westonci.ca is the Q&A platform that connects you with experts who provide accurate and detailed answers. Get immediate answers to your questions from a wide network of experienced professionals on our Q&A platform. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

In The Wealth of Nations, Smith writes about an “invisible hand.” Which of the following best describes the “invisible hand”? A. a guide that ensures that people produce the things that society needs B. the way in which government duties secretly increase the price of imported goods C. the process by which a single worker completes all stages in the manufacture of a product D. the thefts committed by workers in factories.

Sagot :

Gibbs
In the Wealth of Nations, Smith writes about an "invisible hand." the best answer to describe this invisible hand is A) a guid that ensures that people produce the things that society needs. This idea was the basis for market capitalism.
josemariagto

The answer is A: a guide that ensures that people produce the things that society needs.

The theory behind Smith´s “invisible hand” is that offer and demand (what is produced and what is needed, in rough terms) are correlated in as much as self-interest (what one can produce for one´s own benefits) is channeled towards the needs that a given social group may experience at a given moment. This is indeed the justification for any form of laissez-faire economic system which dictates that commerce (transactions between private parties) should not be interrupted by governmental intervention since offer and demand balance each other "naturally".  

Thanks for stopping by. We are committed to providing the best answers for all your questions. See you again soon. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.