The famous observation that households and firms interacting in markets act as if they are guided by an "invisible hand" that leads them to desirable market outcomes comes from whose 1776 book? a. David Ricardo b. Thorstein Veblen c. John Maynard Keynes d. Adam Smith

Question

Easton Combs

Business

24 April, 11:18

The famous observation that households and firms interacting in markets act as if they are guided by an "invisible hand" that leads them to desirable market outcomes comes from whose 1776 book? a. David Ricardo b. Thorstein Veblen c. John Maynard Keynes d. Adam Smith

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Answers (1)

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Semaj Kaiser · Answer 1

d. Adam Smith

Explanation:

In 1776 Adam smith made an observation to the economics as the households and the forms interaction patterns and in the market as they were guided by an invisible hand and that led to the desired outcomes in the markets. Hence this invisible hand was used as a metaphor pf the free market economy which had the individual interest and freedom of the production and consumption as well.