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Self correcting mechanism crude oil prices?

Controls the price fluctuation.


What is the self-correcting mechanism of the currency exchange market?

The automatic process in which the aggregate market eliminates a recessionary gap created by a short-run equilibrium that is less than full employment through decreases in wages (and other resource prices). The self-correction mechanism is triggered by short-run resource market imbalances that are closed by long-run price flexibility. The self-correction process of the aggregate market also acts to close an inflationary gap with higher wages (and other resource prices).


What is the best description of Laissez-Faire in economics?

Laissez-faire is the idea that the economy should continue without interference from the government. The economy would be self correcting.


Who developed the kubotan keychain?

The Kobotan keychain is a self defense mechanism that was invented by Takayuki Kobota. It is meant to be used in close combat not when fighting with arms at full stretch.


What is meant by the Economy being self-correcting?

According to the first two Fundamental Theorems of Welfare Economics, a market, satisfying certain mathematical criteria (that outline optimal conditions), is able to efficiently allocate a price-vector solution for a good with a random distribution of initial endowments. This means that a market can provide the best social outcome without outside interference when certain conditions are true. So, when a market is in disequilibrium, a market 'self-corrects' itself by having a mechanism through which individual decisions by suppliers and buyers leads to the price shifting to its optimal value - and restoring equilibrium. This is sometimes called the Invisible Hand, which was the philosophical formulation of this concept outlined in The Wealth of Nations by Adam Smith in the 1700s.

Related Questions

Self correcting mechanism crude oil prices?

Controls the price fluctuation.


Which brand of window blinds is the best at self-correcting when the blinds get messed up?

There are many kinds of blinds out there but some of the best self correcting blinds would have to be Harmony, Prestige, and Graber


Self correcting anomalies in pediatric dentistry?

ugly duckling stage


What are self correcting structured toy?

Toys that fit together in a specific way....like puzzles


What is the self-correcting mechanism of the currency exchange market?

The automatic process in which the aggregate market eliminates a recessionary gap created by a short-run equilibrium that is less than full employment through decreases in wages (and other resource prices). The self-correction mechanism is triggered by short-run resource market imbalances that are closed by long-run price flexibility. The self-correction process of the aggregate market also acts to close an inflationary gap with higher wages (and other resource prices).


What are the parts of gyro compass and its function?

A gyro compass consists of a spinning gyroscope, a compass card, and a correcting mechanism. The spinning gyroscope maintains its orientation in space and serves as the reference point for navigation. The compass card aligns with the gyro's axis to indicate the heading of the vessel. The correcting mechanism adjusts for errors due to the vessel's motion to provide accurate heading information.


Why do alpackas spit?

probably as a self defense mechanism


What is self incompatability?

Self-incompatibility is a genetic mechanism in plants that prevents self-fertilization and promotes outcrossing. It ensures genetic diversity by rejecting pollen from the same plant or plants with similar genetic composition. This mechanism helps to maintain the health and adaptability of plant populations.


What is the definition of philosophical?

Definition of philosophy is escape mechanism to convince self and others.


What is the point of stinky cheese?

to stop ou eating it. It is a self defence mechanism


Obstacle to self-pollination is called?

"Self-incompatibility" is the term used to describe the obstacle to self-pollination in plants. It is a mechanism that prevents a plant from self-fertilizing by rejecting its own pollen.


What name did Ron Weasley write in his potion book with the malfunctioning self correcting quill in Harry Potter and the Half-Blood Prince?

Roonil Wazlib