Adam Smith's Theory of the Invisible Hand Posits That the Most

question 6

Multiple Choice

Adam Smith's theory of the invisible hand posits that the most efficient allocation of resources is often achieved by:

• A)reducing economic inequality.
• B)government intervention in the market.
• C)collective action.
• D)the actions of independent, self-interested buyers and sellers.

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Definitions:

Ranking

Ranking is the act of ordering or classifying entities based on criteria or performance, often used for comparison or competitive purposes.

Forced Distribution

A performance evaluation method where employee evaluations are distributed along a bell curve, forcing a ranking of employees into categories.

Performance Management

The comprehensive approach of setting objectives, assessing progress, and providing ongoing feedback to ensure that employees meet their career goals and organizational needs.

Measurable Performance Goals

Measurable performance goals are specific, quantifiable objectives set for employees or teams to achieve within a set timeframe.