Posted by Camilla on Tuesday, March 17, 2009 at 6:17pm.
Please help me with this it's about the invisible hand here's the question.
Two family-style restaurants are located in the same city block. I oreder to stay competitive, the prices are kept low and the quality of the food and service is excellent. Is the 'invisible' hand principle at work in this scenario?
Economics/Social Studies - Camilla, Tuesday, March 17, 2009 at 6:18pm
Sorry the second sentence stars with In order
Economics/Social Studies - Ms. Sue, Tuesday, March 17, 2009 at 6:26pm
Yes. That's a good example of the invisible hand principle.
Economics/Social Studies - Pinkie, Tuesday, March 17, 2009 at 6:27pm
Can you explain why so I can understand it better thanks
Economics/Social Studies - Camilla, Tuesday, March 17, 2009 at 6:28pm
Sorry I had the wrong name
Economics/Social Studies - Ms. Sue, Tuesday, March 17, 2009 at 6:31pm
Each of the owners is acting for his own good by providing excellent food and service at competitive prices. This technique also serves the public good.
Answer This Question
More Related Questions
- Economics/social studies - This isn't an example of an invisible hand is it? A ...
- Economics - Topic- Each students will pick three things to write a consumer ...
- Economics - Ok I REALLY need a hand with this question!! Please!! Thank you!! “...
- social studies - determine the teams from cities on the atlantic ocean that will...
- English - Posted by rfvv on Tuesday, October 11, 2016 at 5:39pm. 1. Seoul is the...
- Need your help... SOcial Studies.... - Being a New Yorker, I found the panorama...
- social studies - mexico city is surrounded by mountains. what effect has this ...
- Economics - Explain why housing prices vary from city to city. Clearly explain ...
- Economics quick question - Is this false?? Prices in a competitive market tend ...
- social studies - The nations largest city, N.Y. City is located in this region?