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Explain why Adam Smith believed that competitive markets are a key component of achieving the gains from the invisible hand.
Authority
The power or right to give orders, make decisions, and enforce obedience, often within a specific context or hierarchy.
Personal Values
Fundamental values or ethics that steer a person's actions and choices.
Dominant-Submissive
A social interaction dynamic where one individual exercises control or influence over another, who adopts a yielding or subordinate position.
Active-Passive
A contrast between taking initiative and being reactive or inert in a situation.
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