Examlex
Which of the following statements is false?
Emergent Property
A characteristic or phenomenon that arises from the interaction and organization of individual components in a system, not predictable from the properties of the individual parts.
Market Equilibrium
The point at which the quantity of goods supplied equals the quantity demanded at a particular price.
Emergent Equilibria
The spontaneous attainment of stability within a complex system where individual components interact and adjust to changing conditions without central control.
Invisible Hand
A term coined by Adam Smith to describe the unintended social benefits resulting from individual actions.
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