According to __________, the invisible hand of price mechanism ensures that while promoting their self-interest, individuals promote social welfare as well.

Alfred Marshall

No worries! We‘ve got your back. Try BYJU‘S free classes today!

A.C. Pigou

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Adam Smith

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

J.M. Keynes

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A Adam Smith
Adam Smith was a Scottish economist who emphasized on price mechanism as a invisible hand that aims at both economical i.e. personal gains as well as social i.e. human gains welfare as it is not influenced by any intervention from any party not involved.

Suggest Corrections

Similar questions

A. Organisations that seek to promote the interests of a particular section/group	I. Movement
B. Organisations that seek to promote common interest	II. Political parties
C. Struggles launched to the resolution of a social problem with or without an organizational structure	III. Sectional interest group
D. Organisations that mobilize people with a view to win political power	IV. Public interest groups

	List I		List II
1	Organisations that seek to promote interests of a particular section or group	A	Movement
2	Organisations that seek to promote common interest	B	Political parties
3	Struggles launched for the resolution of a social problem with or without an organisational structure	C	Sectional interest groups
4	Organisations that mobilise people with a view to win political power	D	Public interest group

Join BYJU'S Learning Program