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What are the advantages and disadvantages of filling open positions with inside candidates?
Market System
An economic system whereby decisions regarding investment, production, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.
Invisible Hand
A term coined by Adam Smith to describe the self-regulating nature of the marketplace, where individuals working for their own gain unintentionally benefit society.
Wealth of Nations
A seminal book by Adam Smith that examines how nations achieve wealth and economic growth.
Adam Smith
An 18th-century Scottish economist and philosopher, best known for his book "The Wealth of Nations," which lays the foundation for classical economics.
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