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Invisible Hand in Economics: Definition & Theory

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

The concept of the invisible hand was introduced by:

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1. The concept of the invisible hand refers to:

2. The concept of the invisible hand claims that it leads to:

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About This Quiz & Worksheet

These practice questions will measure your understanding through questions on who introduced the invisible hand concept and what the invisible hand involves.

Quiz & Worksheet Goals

Some topics the questions in these assessments look at include:

  • Who introduced the invisible hand idea
  • The concept behind the invisible hand
  • What the invisible hand leads to
  • How the invisible hand guides a business owner

Skills Practiced

  • Interpreting information - verify you can read information regarding what the invisible hand leads to and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about the concept behind the invisible hand
  • Reading comprehension - ensure that you draw the most important information from the related invisible hand in economics lesson

Additional Learning

Please review the lesson entitled Invisible Hand in Economics: Definition & Theory to review the concepts in the quiz and get a better grasp of these objectives:

  • Understand what the invisible hand is
  • Identify who pioneered the idea of the invisible hand
  • Describe the primary motivation of people according to the theory
  • Show how the economy can be better off when people serve their own needs
  • Appreciate when an economy works best according to Adam Smith
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