--%>
Assignment Help - homework help

Major implication of invisible hand of Adam Smith

The major implication of Adam Smith’s conception of an “invisible hand” was such that: (w) pursuit of individual self interest must be controlled. (x) most people lose sight of what’s good for society. (y) most people are motivated mainly by social welfare. (z) competition channels self-interested behavior to serve all of society.

How can I solve my economics problem? Please suggest me the correct answer.

   Related Questions in Business Economics

  • Q : Explain producers in an industry

    Explain producers in an industry are receiving pure or economic profits?

    		•
  • Q : Several determinants of demand besides

    Illustrate the several determinants of demand besides price which affect demand?

    		•
  • Q : Illustrate the changes in Demand

    Illustrate the changes in Demand, Supply and Equilibrium?

    		•
  • Q : Problem on opportunity cost buying a

    After agonizing regarding whether to buy a hot dog or a hamburger along with his last dollar while he goes to the fair, Jeeter at last chooses the hot dog. The hamburger shows Jeeter's: (i) normative choice, because it would be more nutritious. (ii) opportunity cost o

    		•
  • Q : Illustrate Freedom of enterprise and

    Illustrate Freedom of enterprise and choice exist?

    		•
  • Q : Explain increased global competition

    Explain increased global competition?

    		•
  • Q : Initial systematic and popular

    The initial systematic and popular description of capitalism was explained in: (1) Sir Thomas Mun’s England’s Treasure by Foreign Trade. (2) Joseph A. Schumpeter’s Capitalism, Socialism, and Democracy. (3) John Maynard Keynes’

    		•
  • Q : Resource markets in simple circular

    Can someone help me in finding out the right answer from the given options. In resource markets in a simple circular flow model, house-holds exchange their _________ for _________. (1) Resources | income. (2) Goods | profits. (3) Labor | goods. (4) Devotion | enlighte

    		•
  • Q : Factor Price Equalization theorem

    Please answer each of the exercises below. While you may work together on the homework, you must turn in your own work (in your own words). Homework must be handed in at the beginning of class on the due date unless other arrangements have been made. No late homework will be accepted. Homework wi

    		•
  • Q : Answer the following questions based on

    The dataset used in this question contains data on 180 economics journals for the year 2000. The variable descriptions are as follows: logoclc - log of the number of library subscription loglibcit - log of the library subscription price per citation.