Question

Adam Smith called the force that guided the competition for scarce resources in a free market the _____________

a0 hand.

Answer 1

Answer is invisible.

Answer 2

invisible hand

Step-by-step explanation:

Adam Smith was an economist who lived in the eighteenth century, being considered the first great theorist of economic liberalism. According to Smith, the market would tend to adjust automatically through the interaction between supply and demand for goods and services, as if there were an invisible hand capable of bringing the economy into balance. This theory contrasts with the idea of state interventionism, which argues for the need for a government that uses its influence to maintain the equilibrium of the economic environment. Smith's ideas are shared today by liberal economists.