How Does the "Invisible Hand" Work in a Competitive Market

question 234

Essay

How does the "invisible hand" work in a competitive market system?

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Definitions:

Entrepreneurship

Entrepreneurship is the act of creating, managing, and running a new business venture to make a profit, often at the risk of losing the initial investment.

Opportunities

Chances or situations that can be utilized to achieve or further one's goals.

Resources

Assets, materials, and other items of value that can be used to produce goods and services or to achieve goals.

Small Business

An independent business with fewer employees and less annual revenue than a corporation or larger company, playing a significant role in most economies.