Economist Behind the Invisible Hand Concept
The concept of the "invisible hand" guiding market forces towards equilibrium was famously introduced by the economist Adam Smith.
In his seminal work, The Wealth of Nations (1776), Smith described how individual self-interest, operating within a free market, unintentionally promotes the broader economic well-being of society. This mechanism, the "invisible hand," suggests that without central planning, the pursuit of personal gain by producers and consumers leads to the efficient allocation of resources and the achievement of market equilibrium – where supply meets demand.
Therefore, Adam Smith is the economist credited with articulating this influential idea.
Important Questions from Miscellaneous
- Which of the following relationships is/are not true?
(A). Most probable velocity = $\sqrt{\frac{2RT}{M}}$
(B). PV = $\frac{3}{2}kT$
(C). Compressibility factor Z = $\frac{pV}{nRT}$
(D). Average kinetic energy of gas = $\frac{1}{2}kT$
Choose the correct answer from the options given below - Match List-I with List-II
List-I List-II Electronic Configuration First Ionisation energy (kJ mol$^{-1}$) (A). ns$^2$ (I). 2100 (B). ns$^2$np$^1$ (II). 1400 (C). ns$^2$np$^3$ (III). 800 (D). ns$^2$np$^6$ (IV). 900
Choose the correct answer from the options given below: - The shielding constant of a 2p electron (calculated using Slater's rules) is
- Match List-I with List-II
List-I List-II Spectroscopy Property (A). Raman (I). Polarizability (B). FTIR (II). Dipole Moment (C). UV-Visible (III). Absorbance (D). NMR (IV). Spin
Choose the correct answer from the options given below: - The structure of protein comprises of:
(A). Primary structure of protein is associated with amino acids
(B). Secondary structure of protein is associated to peptides
(C). Tertiary structure of protein is associated with polypeptide chains
(D). Quaternary structure of protein is associated with polypeptide chains
Choose the correct answer from the options given below:
