1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Murrr4er [49]
3 years ago
5

What is meant by the invisible hand? Explain thoroughly using these terms in your explanation; “competition” “self-interest” “se

lf-regulating
Business
1 answer:
hodyreva [135]3 years ago
7 0

Answer:

The invisible hand is the term in economics and political philosophy for the invisible mechanism that drives a free market system, coined by economist Adam Smith. Ever since then, it has been a central concept for economists and conservative politicians in their arguments for a pure, non-state intervention free market, laissez-faire policy.  

In his analysis, Adam Smith argued that the free market itself is a mutually beneficial arrangement that occurs in itself, spontaneously, as if some invisible hand is operating, by a chain of thousands of exchanges without participants thinking anything about the consequences.

Therefore, through competition guided by the market participants' self interests, all market participants would benefit in a collateral way, provided that there is a proper self regulation of the market, and not a regulation guided by the government.

You might be interested in
Consider an event you are familiar with, such as a baseball game, a rock concert, or delivering delivering product to a customer
Kay [80]

The correct answer to this open question is the following.

I am going to consider a rock concert. I am familiar with this event.

This is the logistics needed and the sequence in organizing this particular event.

1.- The promoter contacts the talent agency to negotiate with the band's management.

2.- The promoter has scheduled some dates in a specific venue where it is going to organize the show.

3.- The promoter and the manager negotiates the band fees.

4.- Both sign an agreement.

5.- THe promoter confirms the show with the venue.

6. The promoter order the printing of the tickets.

7.- The promoter double-checks all the permissions and authorizations required by the local government, according to the characteristics of the show.

8.- The promoter notifies the fire department, the police department, the traffic department, and rents medical or emergency services for the day of the show.

8.- The band's manager sents the "rider," the document where the band specifies its catering, backstage, rigging, light, and sound system. This document also includes hotel rooms, ground transportation necessities, and flight tickets.

9.- The promoter starts the marketing and promotion of the show in mass media outlets and social media.

10.- The promoter rents all the equipment needed.

11.- Everything is ready for the day of the show.

6 0
3 years ago
Two countries produce copper and lead. Country A can produce a maximum
alina1380 [7]

Answer:

A. Country B has a comparative advantage producing copper.

Explanation:

Comparative advantage is the capability of a firm or country to produce a good or service at a lower opportunity cost than rivals. It implies the country uses fewer resources to produce that commodity. Comparative advantage enables a country to have a higher output while using the same inputs as its competitors.

Country B can produce 400 tons of copper, while country A  ability is 300 tons. Country B uses labor and materials more efficiently in copper production; hence it has a comparative

8 0
3 years ago
As the Managing Director of SXSW, Roland Swenson sells advertising to other businesses in an effort to promote SXSW’s music fest
valina [46]

Answer:

Sales promotion

Explanation:

Sales promotion is the process of convincing the customer to buy products. It uses short term tactics to boost sales and can be directed at the customer, sales staff, or distribution channel members.

Sales promotion is one aspect of the promotional mix.

Promotional mix is made up of advertising, personal selling, direct marketing, and public relations.

Managing Director of SXSW, Roland Swenson sells advertising to other businesses in an effort to promote SXSW’s music festival and the other companies’ products. This is a business to business sales promotion.

3 0
4 years ago
Read 2 more answers
When your friend returns from a study abroad, he reports back to you on the very different foods that people in his host country
Stolb23 [73]

Cultural relativism is the concept that similar actions in different parts of the world have different meanings because the cultural interpretation of that action.

5 0
4 years ago
Read 2 more answers
Distinguish between individual Centred career and Organisation Centred career​
malfutka [58]

Answer:

please check my profile

Explanation:

7 0
3 years ago
Other questions:
  • Which of the following is not a cost typically associated with owning a car
    9·2 answers
  • Greg, a self-employed plumber, commutes from his home to his office which is 10 miles away. At his office, he loads his truck fo
    6·1 answer
  • Mauve starts a business that specializes in procuring and selling antique items. Her business caters specifically to individuals
    13·1 answer
  • Adele decides to purchase several silver tea sets from Vaughn's gift store. In their sales contract, Adele and Vaughn do not spe
    12·1 answer
  • Ahnberg Corporation had 660,000 shares of common stock issued and outstanding at January 1. No common shares were issued during
    13·1 answer
  • What is the relationship between interest rates and aggregate spending?
    11·1 answer
  • The profits in Retained Earnings go to who?
    15·1 answer
  • Consider the following sample data: For these data the sample mean is: 3 12 10 8
    6·1 answer
  • In your opinion, what are the three most important microeconomic issues of our society today?
    15·1 answer
  • Investing in stocks and bonds is risky because it is possible to lose all or part of your principal.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!