“Invisible hand” in the instant case is being used a metaphor for government control. So you believe that FAR 15 is too onerous?
Assess risk based on the likelihood of adverse events and the effects on information assets when events occur.
July 25, 2019How does the “invisible hand” operate and why do market economies usually do a better job than command economies at efficiently transforming economic resources into desirable output?
July 25, 2019“Invisible hand” in the instant case is being used a metaphor for government control. So you believe that FAR 15 is too onerous?
Question Description
This assignment has two parts:
Adam Smith’s “Invisible Hand” theory states that if each consumer is allowed to choose freely what to buy and each producer is allowed to choose freely what to sell and how to produce it, the market will settle on a product distribution and prices that are beneficial to all the individual members of a community, and hence to the community as a whole.
“Invisible hand” in the instant case is being used a metaphor for government control. So you believe that FAR 15 is too onerous?
Are costs associate with complying with FAR 15 having a deleterious impact on small business?
Additional References
Hawkins, T. G., & Muir, W. A. (2014). An exploration of knowledge-based factors affecting procurement compliance. Journal of Public Procurement, 14(1), 1-32.
From Library Database: ABI Inform Collection
Hoppe, E. I., & Schmitz, P. W. (2013). Public-private partnerships versus traditional procurement: Innovation incentives and information gathering. RAND Journal of Economics (Wiley-Blackwell), 44(1), 56-74. doi:10.1111/1756-2171.12010
From Library Database: Business Source Complete
Martínez-de-Albéniz, V., & Simchi-Levi, D. (2013). Supplier-Buyer Negotiation Games: Equilibrium Conditions and Supply Chain Efficiency. Production & Operations Management, 22(2), 397-409. doi:10.1111/j.1937-5956.2012.01374.x
From Library Database: Business Source Complete
Maser, S. M., & Thompson, F. (2013). Dispelling fear and loathing in government acquisition: A proposal for cultivational governance in DOD source selections. Journal of Public Procurement, 13(3), 289-314
From Library Database: ABI Inform Collection
