Which best describes the idea behind the "invisible hand"? Producers decide what to make for consumers, which guides the economy. Individuals seeking their own self interest benefit the economy as a whole. Government sets policy for producers and consumers, which guides the economy. Consumers decide what they need and want to buy, which guides the economy.

Which situation is the best example of regulation in an economic system? a retail business just opened a new store in a community close to its original location. a small clothing shop slashed it prices to attract customers from a larger department store nearby. a farmers’ market has offered a special deal to customers from a nearby yoga school. a state agency has been created to monitor the production and distribution of sports drinks.