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Kelsey Bridges
on Oct 13, 2024

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Which does not fit with the others?

A) Competition
B) Government planning and regulation
C) The invisible hand
D) The price mechanism

Invisible Hand

A metaphor introduced by Adam Smith to describe the self-regulating nature of the marketplace, where individual self-interests unintentionally benefit society as a whole.

Price Mechanism

The way in which prices rise and fall as a result of changes in demand and supply, guiding the allocation of resources in a market economy.

  • Grasp the significance of the price mechanism in allocating resources efficiently.
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Sephora NgomaOct 15, 2024
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