Meaning of invisible hand
In a sentence, explain the meaning of the phrase “invisible hand.”
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Market prices act as an “invisible hand,” coordinating an economy through rationing what are scarce and providing incentives to generate the most desired goods and services.
Expenditure: The expenditures reported on a department’s annual financial reports and “past year” budget documents comprises of amounts paid and accruals (comprising encumbrances and payables) for obligations made for the fiscal year
Year of Completion (YOC): This is the last fiscal year for which the appropriation is accessible for encumbrance or expenditure.
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What is Frequency Distribution? Compare Categorical Frequency Distribution, Ungrouped Frequency Distribution, Grouped Frequency Distribution?
Tort: It is a civil wrong, other than a breach of contract, for which the court awards indemnity. The traditional torts comprise malpractice, negligence, assault and battery. Lately, torts have been widely expanded such that the interference with a co
Capital Outlay (CO): A character of expenses of funds to obtain land, plan and build new buildings, expand or transform existing buildings, and/or purchase tools associated to such construction.
Abatement: A decrease to an expense which has already been made. In state accounting, only specific kinds of receipts are accounted for as abatements, comprising refund of overpayment of salaries, rebates from vendors and third partie
Cite three example of recent decisions which you made in which you, at least implicitly, weighed marginal costs & marginal benefits.
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