Answer:
Self-interest in a market system will automatically promote the public interest as well.
Explanation:
An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.
Hence, a region's or country's economy is largely dependent on how resources are being allocated and utilized, how many goods and services are to be produced, what should be produced, for whom they are to be produced for and how much money are to be spent by the consumers to acquire these goods and services.
A free-enterprise system also referred to as capitalism or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, a free-enterprise system is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.
Simply stated, a free-enterprise system is a type of economy that is completely driven by demand and supply of goods and services.
The "invisible hand" concept asserts that the self-interest by producers and suppliers of resources in a market system will automatically promote the public interest as well.
This ultimately implies that, public and private interest will always coincide assuming there exist competition in a free market system.
In conclusion, the invincible hand concept is a metaphorical description of the unforeseen forces that typically moves a free market system or economy.
That statement is false.
Often time, company's policy regarding refund is written in overly complicated manners so the company is protected from the potential legal attack by the consumers. So I guess this would make the informing effort became ineffective for the consumers.
Answer:
<u>Foreign trade</u>
Explanation:
Often times a major determiner of the value of countries currency is the amount of their exports.
Thomas therefore as a financial advisor <em>should advise the government to build more on production of locally available materials that are highly demanded internationally for exports, by so doing he could improve the country's currency</em>.
Answer:
the profit margin will decrease and supplies won't get their promotin
A. True
Btw that's a picture of me.
