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20 August, 16:24

invisible hand in Adam Smith's theory turns self-directed gain into social and economic benefits for all. true false

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  1. 20 August, 16:43
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    TRUE

    Explanation:

    Adam Smith 'Laissez Faire' Theory implies : Markets as free mechanisms are best, they are guided by self interest which tends to bring best socio economic welfare by increasing wealth. The market 'Invisible Hand' acts as an automatic stabiliser to any economic discrepancy & any government intervention is unnecessarily distortionary.
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