The Concept of the Invisible Hand Was First Introduced to Economics

question 32

Multiple Choice

The concept of the invisible hand was first introduced to economics by:

• A) David Ricardo.
• B) Adam Smith.
• C) Thomas Malthus.
• D) Milton Friedman.

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Definitions:

Neutral Third Party

An unbiased individual or entity not directly involved in a situation or dispute, who may act as a mediator or arbitrator.

Negotiation

Is the process of making joint decisions when the parties involved have different preferences.

Rational Argument

A logical, fact-based discussion aimed at reaching a conclusion or persuading others through reasoning.

Conflict

A situation where two or more parties have opposing ideas, interests, or beliefs, leading to a disagreement.