Asked by
Sarah Corder
on Oct 13, 2024
Verified
Which does not fit with the others?
A) "The invisible hand"
B) Government regulations
C) A government "five-year plan"
D) Government planning
Government "Five-Year Plan"
A centralized and often government-enforced economic development strategy, typically aimed at rapid industrialization or development within a five-year timeframe.
"The Invisible Hand"
A term coined by Adam Smith to describe the self-regulating nature of the marketplace.
Government Planning
It involves strategies and policies implemented by a government to achieve specific economic, social, or environmental goals.
- Absorb the fundamentals of the price mechanism and its contribution to the dynamics of capitalist economic models.
- Acquire knowledge on Adam Smith's concepts of self-interest and the invisible hand within the realm of economics.
Verified Answer
SR
Learning Objectives
- Absorb the fundamentals of the price mechanism and its contribution to the dynamics of capitalist economic models.
- Acquire knowledge on Adam Smith's concepts of self-interest and the invisible hand within the realm of economics.