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How Does Adam Smith's Idea of the "Invisible Hand" Apply

question 73

Essay

How does Adam Smith's idea of the "invisible hand" apply to the various parts, made by many different manufacturers in many different countries, that are used by Apple to produce an iPad?


Definitions:

North Korea

A country in East Asia, officially known as the Democratic People's Republic of Korea, known for its totalitarian government and isolation from much of the international community.

Economic Immigrants

International migrants who have moved from one country to another to obtain economic gains such as better employment opportunities.

International Migrants

International migrants are individuals who move from one country to another, often for reasons such as employment, education, or escape from conflict, which can impact both the origin and destination countries.

Cumulative Total Product

The overall quantity produced over a specific period when inputs are increased incrementally.

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