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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:

Indefinite Hiring

An employment arrangement without a predetermined end date, typically at will and subject to termination by either party with notice.

Unjust Dismissal

The unwarranted termination of an employee in violation of legal or contractual obligations.

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing and signed by the party to be charged.

Negligently Harms

Inflicting injury or damage on someone due to carelessness or failure to take reasonable precautions.

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