Question

What is meant by the phrase ‘invisible hand’?​

Answer 1

Answer:

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• The unobservable 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'.

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Answer 2

question:-

What is meant by the phrase ‘invisible hand’?

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Definition: The unobservable 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

⭐more related question:

What is an example of the invisible hand?

answer:-

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

How is the invisible hand used today?

answer:-

Within markets and a market economy specifically, the Invisible Hand metaphor is used to describe supply and demand and division of labor and labor practices. Consider the need for cars: The amount of people in the market for a new car fluctuates depending on the overall health of the economy.

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