The "Invisible Hand" Refers to

question 5

Multiple Choice

The "invisible hand" refers to

• A)how central planners made economic decisions.
• B)how the decisions of households and firms lead to desirable market outcomes.
• C)the control that large firms have over the economy.
• D)government regulations without which the economy would be less efficient.

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Definitions:

Focus Groups

A research method in which a small, diverse group of people are gathered to discuss and give feedback on a particular subject, product, or policy.

Single System Designs

A research design tailored to evaluate the effectiveness of an intervention or treatment on a single subject or system over time.

AB Designs

A basic type of research design that compares two groups, A and B, to assess the effect of an intervention or treatment.

Withdrawal Designs

Experimental designs in behavioral research where an intervention is removed to assess its effects on the subject's behavior.