Question

How private interest can overshadow or enhance social interest..??​
class 10 cbse

Answer 1

Answer: Self-interest refers to actions that elicit personal benefit. Adam Smith, the father of modern economics, explains that the best economic benefit ...

Explanation:

Answer 2

Explanation:

What Is Self-Interest?

Self-interest refers to actions that elicit personal benefit. Adam Smith, the father of modern economics, explains that the best economic benefit for all can usually be accomplished when individuals act in their self-interest. His explanation of the Invisible Hand reveals that when dozens or even thousands act in their own self-interest, goods and services are created that benefit consumers and producers. Moreover, Smith and other economists have also studied the behaviors of rational self-interest which suggest that most people will act in an economically rational way when faced with behavioral decisions affecting their own personal income and well-being which can also contribute to the positive effects of the Invisible Hand.

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