Market and the invisible hand
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Explain and give an example of the concept of the invisible hand of the market. Describe the market conditions necessary for it to work.
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Solution Summary
A discussion on what the concept of the Invisible Hand is and what it does.
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The invisible hand is the movement of the market in making self corrections. People who are working to make gains for personal gain are also helping the market make gains. The invisible hand works because the market has a normalizing effect. When it is overpriced, it self corrects.
When the market is overpriced, people ...
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