This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What does the concept of invisible hand imply? What will be an ideal ... (Read 76 times)

ap345

  • Hero Member
  • *****
  • Posts: 537
on: Jun 29, 2018
What does the concept of invisible hand imply?
 
  What will be an ideal response?

Question 2

From the economic point of view, why will an avid downhill skier devote many hours to reading, comparing, and testing a new pair of ski boots but only a few hours to deciding who to vote for in the state senator race?
 
  A) Ski boots are ultimately more important to society than state senators.
  B) He needs new ski boots; he does not need a new state senator.
  C) In his estimation, being highly informed about ski boots is a better use of his time compared to being highly informed about potential state senators.
  D) He is selfish.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

sokh

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jun 29, 2018
Answer to Question 1

The invisible hand is an idea in economics that suggests that when all assumptions of a perfectly competitive market are in place, the pursuit of individual self-interest promotes the well-being of society as a whole, almost as if the individual is led by an invisible hand to do so. Thus, under perfect competition, when individuals are working to maximize personal profits, they end up promoting social interests.

Answer to Question 2

C


ap345

  • Member
  • Posts: 537
Reply 2 on: Jun 29, 2018
Wow, this really help

FergA

  • Member
  • Posts: 352
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Concept Care Map Concept Care Map
Human hand and wrist anatomy Human hand and wrist anatomy
Fascial stretching techniques. (A) Cross-hand dual direction stretch. (B) Pin and stretch with the ... Fascial stretching techniques. (A) Cross-hand dual direction stretch. (B) Pin and stretch with the ...
Fingers-to-thumb petrissage. The soft tissues are pressed between the thumb of one hand and the ... Fingers-to-thumb petrissage. The soft tissues are pressed between the thumb of one hand and the ...
Apply lotion to the entire hand and arm, moving up the arm from hand to shoulder. Use moderate ... Apply lotion to the entire hand and arm, moving up the arm from hand to shoulder. Use moderate ...
Squeeze hands and fingers. Compress and broaden the hand. Squeeze along each finger. Squeeze hands and fingers. Compress and broaden the hand. Squeeze along each finger.
Video: Leukemia

For a complete list of videos, visit our video library