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Adam Smith Formulated the "Invisible Hand" and the Free Market

question 82

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Adam Smith formulated the "invisible hand" and the free market to explain the motivation for individual behavior.The "invisible hand" refers to:


Definitions:

Clinical Psychology

A branch of psychology focused on diagnosing and treating mental, emotional, and behavioral disorders through therapy and interventions.

Humanistic Psychology

A psychological perspective which emphasizes the study of the whole person and the uniqueness of each individual, often focusing on concepts such as free will, self-efficacy, and self-actualization.

Early History

The initial stages or periods in the development or formation of a society, institution, or phenomenon.

Cognitive Psychologists

Scientists who study mental processes such as perception, memory, language, problem-solving, and thinking.

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