The Famous Concept of an Invisible Hand Was Introduced by

question 53

Multiple Choice

The famous concept of an invisible hand was introduced by

• A) Smith and Marshall.
• B) Smith and Wesson.
• C) Adam Smith.
• D) Adam West.
• E) Alfred Pennyworth.

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Definitions:

Vicious Cycle of Poverty

A self-perpetuating condition where poverty leads to situations that perpetuate poverty, making it difficult for individuals or communities to escape poverty.

Theory of Exploitation

A concept in Marxist economics that posits that capitalists extract surplus value from workers' labor, paying them less than the actual worth of their work.

Neocolonialism

The economic and political strategies by which powerful nations indirectly maintain or extend their influence over other countries, often through economic pressures or cultural dominance.

Capital-Using Technology

An improvement in technology that requires the use of a greater amount of capital to produce a specific quantity of a product.