Briefly describe the concept of the "invisible hand."
What will be an ideal response?
The invisible hand suggests that a competitive market attains allocative efficiency simply by the forces of supply and demand, with no government involvement needed to organize the resources, or set the efficient price and quantity.
Economics
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Porter's five forces model is trying to identify things that leads to a company's success
Indicate whether the statement is true or false
Economics
If you compare the balance of payments accounts of Japan, China, Pakistan, and Romania, you may be surprised to see that they all
a. have the same exchange rates b. have current accounts that add up to zero c. have current accounts that add up to one d. add up to zero e. are recorded in U.S. dollars
Economics