Which of the following choices best illustrates the concept of Adam Smith's "invisible hand"? A Vietnamese farmer grows rice, an exporter ships it to the United States, and a grocer in New York sells it to a customer. A fishery's stock of fish becomes depleted due to overfishing as boats from around the world converge. A government regulates a firm to clean up the pollutants the firm has released as part of its production process. An apartment building that provides much-needed housing is built on the site of the only playground for children in that town.

Question

Walter Richmond

Social Studies

17 July, 09:52

Which of the following choices best illustrates the concept of Adam Smith's "invisible hand"? A Vietnamese farmer grows rice, an exporter ships it to the United States, and a grocer in New York sells it to a customer. A fishery's stock of fish becomes depleted due to overfishing as boats from around the world converge. A government regulates a firm to clean up the pollutants the firm has released as part of its production process. An apartment building that provides much-needed housing is built on the site of the only playground for children in that town.

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Kira Morton · Answer 1

Answer: B is correct (story about fishery's stock).

Explanation: in this case "invisible hand" (i. e. law of offer and demand on the market) means increasing offer exceeded demand on the market and the result = fishery's stock got depleted.