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_____ Is a Term Used by Adam Smith to Explain

question 8

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_____ is a term used by Adam Smith to explain the inherent mechanisms at work in free market systems that keep commerce in equilibrium. It is also known as the "invisible hand."


Definitions:

Passive Victims

Individuals or groups that suffer from a harm or injustice without taking active steps to resist or prevent it.

Management Control

A systematic effort by business management to compare performance to predetermined standards, plans, or objectives in order to ensure that organizational goals are met.

Political System

The structure through which a society organizes and governs itself, including institutions, political parties, and governing bodies.

Production

The process of creating, manufacturing, or generating goods and services.

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