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SBA: The abbreviation for Small Business Administration, which is an independent federal agency that was started in 1953 to help small business. It provides a variety of assistance, including financial, technical, and managerial help. It helps other agencies in the federal government direct contracts and spending in the direction of proprietorships and small corporations. It also provides low interest loans to small businesses that suffer from natural disasters.
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INVISIBLE HAND: The notion that buyers and sellers, consumers and producers, households and businesses, pursuing their own self-interests, do what's best for the economy--automatically, without any government intervention, as if guided by an invisible hand. This invisible hand was essential to the economic analysis of markets in Adam Smith's The Wealth of Nations. It has continued to be cornerstone in conservative economic policies that call for limits on government intervention in the economy. See also | market | free market | laissez faire | free enterprise | Smith, Adam | efficiency | competition | allocation | The Wealth of Nations | conservative | liberal |
Recommended Citation:INVISIBLE HAND, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: June 1, 2023].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: invisible hand
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AGGREGATE DEMAND AND MARKET DEMAND The aggregate demand curve, or AD curve, has similarities to, but differences from, the standard market demand curve. Both are negatively sloped. Both relate price and quantity. However, the market demand curve is negatively sloped because of the income and substitution effects and the aggregate demand curve is negatively sloped because of the real-balance, interest-rate, and net-export effects.
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WHITE GULLIBON
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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either a how-to book on building remote controlled airplanes or an extra large beach blanket. Be on the lookout for jovial bank tellers.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"Chance favors only the prepared mind." -- Louis Pasteur, biologist
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HSB
High School and Beyond
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