Understanding Business, 10th Edition

Published by McGraw-Hill Education
ISBN 10: 007352459X
ISBN 13: 978-0-07352-459-7

Chapter 2 - Understanding Economics and How It Affects Business - Critical Thinking - Page 55: 3b

Answer

Invisible Hand

Work Step by Step

Adam Smith's invisible hand is the positive effect of individuals working for their own gain on society as a whole. Businesspeople and nonprofit workers both believe their work efforts are going to a positive gain, which they are. This personal gain within both category produces the invisible hand effect on society.
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