Examlex
What are the limitations of goal-setting?
Invisible Hand
A term coined by Adam Smith to describe the self-regulating nature of the marketplace in adjusting supply and demand autonomously.
Marketplace
A physical or digital venue where buyers and sellers come together to exchange goods, services, or information.
Marginal Buyer
The consumer who might leave the market if the price was any higher, indicating their participation is sensitive to price changes.
Willingness To Pay
The greatest sum a consumer is ready to spend for a good or service, showcasing the importance they assign to it.
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