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Material Detail

The Role of Self-Interest and Competition in a Market Economy

The Role of Self-Interest and Competition in a Market Economy

Adam Smith described self-interest and competition in a market economy as the "invisible hand" that guides the economy. This episode of "The Economic Lowdown" explains these concepts and their importance to our understanding of the economic system.
Keywords:
Competition, Market Economy, Wants, Regulation, Self Interest, Adam Smith, Incentives, Capitalism, Podcast
Disciplines:
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More about this material

Material Type:
Reference Material
Date Added to MERLOT:
February 11, 2020
Date Modified in MERLOT:
July 21, 2020
Author:
 
Submitter:
Adrienne Brennecke
Primary Audience:
Grade School, Middle School, High School, College General Ed, College Lower Division
Technical Format:
Audio File (e.g. Podcast)
Mobile Compatibility:
Not specified at this time
Language:
English
Cost Involved:
No
Source Code Available:
Unknown
Creative Commons:
Creative Commons License
This work is licensed under a Attribution-NonCommercial-NoDerivatives 4.0 International

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