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:

Group Cohesiveness

The extent to which members of a group are bonded together, resulting in a strong sense of identity, commitment, and loyalty toward the group.

Cohesiveness

The degree to which members of a group or team are united toward common goals and exhibit loyalty to the group.

Social Loafing

The tendency of individuals to exert less effort when working in a group than when working alone.

Process Loss

The inefficiency and productivity loss that occurs in team processes, often due to poor coordination, communication, or conflict among team members.