The Invisible Hand of the Marketplace Acts to Allocate Resources

question 75

True/False

The invisible hand of the marketplace acts to allocate resources efficiently, but it does not necessarily ensure that resources are allocated fairly.

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Definitions:

Assessing

The process of evaluating or estimating the nature, ability, or quality of something or someone.

Innovation Process

A series of steps that include the generation, development, and implementation of new ideas or products.

Tolerate Criticism

The ability of an individual or organization to accept and constructively use feedback or negative evaluations from others.

Business Model Innovation

The process of designing a new, unique model for a business to create, deliver, and capture value in ways that disrupt or transform the market.