What Was the 'Invisible Hand' Doctrine That Adam Smith Discussed

question 84

Essay

What was the 'invisible hand' doctrine that Adam Smith discussed in his 1776 book An Inquiry into the Nature and Causes of the Wealth of Nations?

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Definitions:

Accounts Receivable

Money owed to a company by its customers for goods or services delivered but not yet paid for.

Sales on Account

Transactions where goods are sold and delivered with the understanding that payment will be made at a later date.

Average Collection Period

The average number of days it takes for a business to receive payments from its customers for invoices issued.

Accounts Receivable

Amounts owed to a company by customers for goods or services that have been delivered or sold but not yet paid for.