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competition and self-interest
Kiera Lakin
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What invisible hand regulates the free-market economy?
competition and self interest
What did Adam Smith say the free market economy is regulated by?
It was self-regulated by the "invisible hand."
Who regulates free enterprise?
The 'market' regulates free enterprise, while a board of appointees regulates a college, or a group of elected officials regulates a democracy.
What is canadas economy based on?
A free market economy
Why is Adam Smith important?
Father of capitalism and the free market economy. Had the idea of the invisible hand leading the economy rather than the government. We currently have a system with minor government interference, to provide for police, fire,etc... things the free market does not address.
What are the merits and demerits of free market economy?
what are the merits and demerits of free market economy
What is the opposite of free market?
A free market economy
Is Egypt a market economy?
Egypt is a free market economy.
Does Singapore have a command or free market economy?
A market economy
What are the components of a free market economy?
A free market economy is a market based one. The prices of goods and services are determined independently in a free market.
What kind of economy does Hong Kong have?
a free economy with few goverment regulations
What role does the US government play in the free market economy?
Generally, the US government allows for the market to act unimpeded unless it causes serious social losses. For example, the government intervenes and regulates in cases of lack of competition, imperfect information, dangerous production or distribution, and externalities.
