Practicing Success

Target Exam

CUET

Subject

Sociology

Chapter

Indian Society: Market as a social Institution

Question:

The central argument given by Adam Smith for the concept of "invisible hand" was:

Options:

Market is equivalent to the economy

Economics is legally and politically embedded

Society benefits when individuals pursue their own self interest in the market

Markets are political institutions that are constructed in power

Correct Answer:

Society benefits when individuals pursue their own self interest in the market