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:

Illegal Or Tortious Act

An action that is forbidden by law or results in harm to another individual, creating civil liability.

Receives A Gift

involves obtaining something as a gift, where the recipient does not pay or provide anything in exchange.

Notifying The Principal

The act of informing the principal party or stakeholder about significant or relevant information, especially in legal, educational, or contractual contexts.

Insolvent Customer

A customer who cannot meet their financial obligations or pay for goods or services due to lack of financial resources.