What does the 'invisible hand' concept, as proposed by Adam Smith, primarily signify?

Correct option is C

The correct answer is: (c) Market equilibrium achieved via self-interest
Explanation:

• Adam Smith introduced the “invisible hand” concept in his book The Wealth of Nations (1776).

• It signifies that when individuals act in their own self-interest, they unintentionally contribute to the overall good of society.

• Markets achieve equilibrium naturally without heavy government intervention.
Information Booster:

• Adam Smith is known as the Father of Modern Economics.

• Advocated laissez-faire (minimal government interference).

• Believed competition regulates markets efficiently.

• Invisible hand promotes efficient allocation of resources.

• Forms the basis of free-market capitalism.