Adam Smith used the metaphor of the "invisible hand" to:

a. Describe the appropriate, limited role of government

b. Describe how the individual pursuit of self-interest works to promote the interest of the public as a whole

c. Describe how, ideally, income would be distributed "from each according to his ability, to each according to his need"

d. Describe the benefits of free trade

Question

Cyrus

Business

13 October, 09:12

Adam Smith used the metaphor of the "invisible hand" to:

a. Describe the appropriate, limited role of government

b. Describe how the individual pursuit of self-interest works to promote the interest of the public as a whole

c. Describe how, ideally, income would be distributed "from each according to his ability, to each according to his need"

d. Describe the benefits of free trade

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Answers (1)

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Noel York · Answer 1

b. Describe how the individual pursuit of self-interest works to promote the interest of the public as a whole

Explanation:

The adam smith uses the terms invisible hand as a metaphor to describe the self-interest of the people as to promote the interest of the public as a whole and is concerns with the forces that affect economic activity. This is described in the book wealth of nations.