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An economic system with no government involvement so that private firms account for all production (consumers and producers answer the three basic questions) The invisible hand of the market will guide resources to their most productive use---self-directed gain turns into social and economic benefits for all (from The Wealth of Nations by Adam Smith) This is laissez faire. Economic activity is included in the GDP for the United States. (Chapter 18) Joseph Stalin demonstrated the main advantage of a command system by. What will be the amount of her new annual salary? 1,512. Study with Quizlet and memorize flashcards containing terms like Demand, Law of Demand, Inferior Goods and more. B" instead of Dr. When marginality becomes so high that the utility of consumers starts to deminish and eventually will become negative. Incentive. An incentive for producers to allocate their resources more efficiently. katiestanton. 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