Question

1. What is meant by the phrase 'invisible hand'?​

Answer 1

Answer:

The observable market force that helps the demand and supply of goods in a free market to reach equilibrium automatically is the invisible hand. Description: The phrase invisible hand was introduced by Adam Smith in his book 'The Wealth of Nations'.The invisible hand is a natural force that self regulates the market economy. An example of invisible hand is an individual making a decision to buy coffee and a bagel to make them better off, that person decision will make the economic society as a whole better off.

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