According to, self-interest and competition act as, guiding firms in a market-based economy. NextReset

According to Adam Smith, self-interest and competition act as an invisible hand, guiding firms in a market-based economy.

Adam Smith was a famous economist who wrote quite a lot about the market and what should be done in order to improve it. He thought that competition and self-interest were important when it comes to a market-based economy because they make companies produce more.