______ Are Organizations in the Same Industry That Provide Goods

question 139

Short Answer

______ are organizations in the same industry that provide goods or services to the same set of customers.

---

Definitions:

Adam Smith

An 18th-century Scottish economist and philosopher known as the father of classical economics, best known for his works "The Wealth of Nations," which outlines the basis for free market economics.

Invisible Hand

A term used by Adam Smith to describe the self-regulating nature of the marketplace, where individual self-interest can lead to beneficial social outcomes.

Buddhists

Followers of Buddhism, a spiritual tradition that focuses on personal spiritual development and the attainment of a deep insight into the true nature of life.

David Hume

A Scottish Enlightenment philosopher, historian, economist, and essayist known for his empirical approach to philosophical questions and skepticism about religion.