1. The Effect of Invisible Hand to Society
As the objective of social provisioning is to maximise everyone's satisfaction, then this system achieves best because the system allows each individual to maximise their own benefits. ... Consumers: Consumers want to maximise their own economic welfare, sometimes referred to as utility or satisfaction. ... Workers: Workers want to maximise their own welfare at work relative to the human cost of working in a particular job. ... Consumers, for instance, will spend to maximise their satisfaction or utility. ... The more efficiently workers work, the more secure will be their jobs and the...
- Word Count: 2544
- Approx Pages: 10