Adam Smith theories promote individualism in the sense that they state that, when each economic agent (households, business, or public entities) pursue their own interests selfishly, the outcomes generated by their economic activities will optimize the social welfare.
The incentives behind working for the own profit are much higher, and make individuals more productive and more sensitive to mistakes, therefore they are keen on improving their practices constantly. In turn, the incentives of working for the common interest are more vague, and such situations lead to sharp productivity declines. It is more likely that societies with greater productivity are able to produce efficiently enough goods and services to cover the needs of all its citizens. Therefore those societies end up maximizing the social welfare. These are the main arguments which support the invisible hand principle coined by Adam Smith.
Substantial capacity
You are capable of anything that you put your mind to
Answer:
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Explanation:
Answer:
Counterbalancing
Explanation:
Order effects is known to be the area of order of treatments in the course of an experiment process. Simply put it this way, putting the treatments in a separate order will cause some changes to the results depending on the order of administration of the treatment just as in the case study.
Order effects could be due to probably anything such as fatigue (from one or two tests), practice (familiar with the testing environment boost performance) or varying Testing Conditions (from the testing environment such as heating, lighting, or ergonomics).
Counterbalancing, comes into play in times of all probable treatments being given in all probable orders can regulate for order effects.
Counterbalancing is a procedure used to solve order effects when employing a repetitive process design. With counterbalancing, the participant sample in our case study is grouped in fours using a within-subjects design with four levels to his independent variable. Conner has ¼ of the participants complete each level in ABCD order, a ¼ of participants in BCDA order, a ¼ of participants in CDAB order, and a ¼ of participants in DABC order.
The varying order effects would be compensated for by this procedure.
For within-subjects design, two major counterbalancing techniques would be used involving subject-by-subject counterbalancing, which regulates progressive error for every subject, and across-subjects counterbalancing that evenly spread progressive error over all subjects.
Ok what is it so I can help I think
