A United States firm recently won a large contract with a company in Malaysia, by providing the foreign nation's government officials with American cars and a promise of additional monetary gifts. Clearly, this procedure: Group of answer choices violates the Foreign Corrupt Practices Act. defines the common business practices of the foreign nation and should be respected. defines the terms of the business contract, and as long as both parties sign, the agreement is binding. violates the Fair and Balanced Competitive Practices Act.

Answers

Answer 1

Answer:

violates the Foreign Corrupt Practices Act.

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, etc.

The Foreign Corrupt Practices Act (FCPA) is a federal law of the United States of America that explicitly prohibits its citizens and business firms from engaging in bribery of foreign of foreign government officials in order to gain favors or profit their business. This Act was enacted by the 95th US Congress and signed into law by President Jimmy Carter on the 19th of December, 1977.

In this scenario, a United States firm recently won a large contract to provide Malayalam government officials with American cars and a promise of additional monetary gifts. Hence, this procedure clearly violates the Foreign Corrupt Practices Act of 1977.


Related Questions

What is the purpose of insurance simple words?

Answers

Insurance has a purpose of protecting yourself and your loved ones financially in case of unexpected events, such as a death, an accident, a natural disaster, or a medical emergency.

Insurance policies provide a safety net by helping to cover the costs associated with these events, such as medical bills, funeral expenses, and property damage. With insurance, you can have peace of mind knowing that you and your family have a level of financial protection in the face of difficult times.

Insurance is a way to protect you and your loved ones from financial loss due to unexpected events and that is its purpose. It is a way to ensure that you and your family have the financial resources to cope with difficult situations, such as illness, theft, damage to property, or death.

Insurance can be taken out to cover a variety of things, including your home, car, health, life, and business.

By paying regular premiums, you can rest assured that you and your family are protected if the worst should happen.

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The continuing development and improvement of computer information systems has made a powerful impression on Jaimie Hall, CEO of See-Saw City (SSC). The current computer system at SSC is seven years old, and while still highly useful and reliable, Jaimie is wondering if a new system would be more efficient and more useful. Jamie recognized that some of her managers would prefer to keep the old system, while others have been requesting that the company update its information capability. To overcome the resistance to the new system, Jamie can use any of the following techniques, EXCEPT
A. Education and Communication
B. Participation in designing the system
C. Coercion
D. All of these can be used

Answers

Answer:

C

Explanation:

A property has a net income of $40,000, interest payments of $17,000, and annual cost recovery of $9,000. The property's tax rate is 25%. What is the property's annual tax liability

Answers

The property's yearly tax obligation is calculated to be $3500.

The amount that a person, company, or other entity owes to a federal, state or local tax authority is known as their tax liability. In general, you owe taxes when you earn money or make gains off of the sale of an investment or other item.

Anyone who owns a residential, commercial, or rental property is required to pay property tax, which is due annually or semi-annually depending on convenience. The location of the property, the current valuation, and local laws all play a role in determining the tax amount.

Annual Tax Liability = (net income - interest payments - annual cost recovery) *  property's tax rate

Annual Tax Liability = (40000 - 17000 - 9000) * 0.25

Annual Tax Liability = 14000 * 0.25 = $3,500

Therefore, Annual Tax Liability = $3,500

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If there are no units in process at the beginning of the period,
A) then the units started into production will equal the number of units transferred out.
B) the units to be accounted for will equal the units transferred out and the units in process at the end of the period.
C) only one computation of equivalent units of production will be necessary.
D) the company must be using a job order cost system.

Answers

A) then the units started into production will equal the number of units transferred out. If there are no units in process at the beginning of the period, then the units started into production will equal the number of units transferred out.

When no units are in progress at the start of a period, all units put into production during that period will have been finished and transferred out by the conclusion of that period. This is because there aren't any ongoing projects from earlier periods that were started during the current period. Additionally, this indicates that by the end of the period, there won't be any units in progress. It's also vital to keep in mind that just the precise scenario mentioned in the question applies to this; in other cases, the units put into production and those moved out might not be the same.

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Which of the following items should a company report directly in its monthly cash budget?
a. Accrued interest on zero coupon bonds that it issued.
b. New shares issued in a stock split.
c. Its monthly depreciation expense.
d. New shares issued in a stock dividend.
e. Cash proceeds from selling one of its divisions.

Answers

A company should report directly in its monthly cash budget any cash proceeds from selling one of its divisions. option E is the correct answer.

What is a cash budget?

An estimate of a person's or a business's cash inputs and outputs over a certain time period is called a cash budget.

Cash budgets are typically used to determine whether a business has enough cash to support normal operations. It can also be used to assess how much money is being wasted on useless activities by a corporation.

A cash budget assists in preventing a cash crunch during times when a business faces a large volume of expenses.

It enables a business to decide how much credit it can provide to clients without experiencing liquidity issues.

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the american marketing associan has established these to ensure that marketing firms do not return findings

Answers

The American Marketing Association (AMA) has established a Code of Ethics to ensure that marketing firms do not return findings or results that are misleading or inaccurate.

The Code of Ethics requires that marketing firms provide accurate and reliable data that is free from bias and is based on reliable sources. Additionally, the Code of Ethics requires that marketing firms be transparent with their clients about the methods used to obtain their data and provide an accurate representation of the results. This ensures that marketing firms do not return findings that are not substantiated and provide their clients with the best possible information.

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An investment adviser has its home office in State C. Their only business is with registered investment companies, large employee benefit plans, and broker-dealers. They have no place of business in State D, but provide investment advice to several registered investment companies in that state. State D has recently adopted the Uniform Securities Act and the Administrator feels that the IA should be required to register there. Under the USA

Answers

The firm does not have to register because they have no place of business in the state and their only clients in that state are registered investment companies.

An investment is the provision of funds to acquire an asset with the aim of increasing the value of the asset over time. Investment requires sacrificing current items such as time, money, and effort.

In finance, the purpose of investment is to obtain a profit from the invested capital. Returns consist of realized gains or losses on the sale of real estate or investments, unrealized capital appreciation or dividends, investment income such as interest or rental income, or a mixture of capital gains and income.

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A business has fixed costs of aed 10,000 per year, and produces 1000
items a year. Each item has a variable cost of aed 5. What is the total
cost?
Fast plz ​

Answers

Answer:

TC = Fc + VC

= 10000- 5000= 5000

Which one of these would not be a factor in determining the reorder point?
A) the EOQ
B) the lead time
C) the variability of demand
D) the demand or usage rate
E) all are factors

Answers

The correct answer to NOT a determining factor of reorder point is option A. the EOQ

The reorder point is independent of the EOQ. The inventory level at which a decision to reorder that specific stock of inventory is made is known as the reorder point (ROP). It is the minimum quantity of an item that a company has on hand; when stock falls below this quantity, a new order for the item is required. It is typically calculated as the anticipated usage during the lead period for replenishment plus safety stock. The EOQ (Economic Order Quantity) model made the assumption that there is no delay between placing an order and receiving the materials. When the amount of inventory becomes zero, the reorder point for stock replenishment occurs. Due to the immediate replenishment of stock, the level of inventory increases from zero to the original amount.

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How big of a loan can I get with a 750 credit score?

Answers

With a credit score of 750, you can borrow $50,000 to $100,000 or more. In addition to your credit score, other factors such as your salary, work status, the sort of loan you receive, and even the lender, will affect the precise amount of money you will receive.

What makes it possible?

Because credit scoring techniques do not support it, a credit score of 1,000 is not feasible. According to Experian, some credit scoring techniques can produce scores as high as 900 or 950, however these are institution-specific ratings that are only applied in that sector.To be eligible for a $1,000 personal loan, you probably need a credit score of at least 580. If a borrower has sufficient income to cover the loan's monthly payments, the majority of lenders who offer personal loans of $1,000 or more accept them, even if their credit is poor or better.Generally speaking, you need a credit score of at least 620 to be qualified for a loan to buy a property. Most lenders require that low of a credit score.

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The concert promoters of a heavy-metal band, WeR2Loud, know that there are two types of concert-goers: die-hard fans and casual fans. For a particular WeR2Loud concert, there are 1,000 die-hard fans who will pay $150 for a ticket and 500 casual fans who will pay $50 for a ticket. There are 1,500 seats available at the concert venue. Suppose the cost of putting on the concert is $50, 000, which includes the cost of the band, lighting, security, etc. How much profit will the concert promoters earn if they set the price of each ticket at $50?
A. $150, 000
B. $75,000
C. $25,000
D. $100, 000

Answers

Answer:

C

Explanation:

Profit = total revenue - total cost

If price is set at $50, both the die hard and casual fans would pay because the price is below or equal to their willingness to pay

willingness to pay  is the highest amount a consumer is willing to pay for a product

(50 x 1500) - 50,000 = 25,000

The first step in the delegation process is
Choose matching definition
1 a hierarchy
2 defining the goal
3 analyzing the organizational chart
4 performing a sensational analysis

Answers

Defining the goal is the first stage in the delegation process.This is the matching definition.

What is delegation process?

Delegation is the process of assigning authority and responsibility to a subordinate in order to accomplish a task. The delegation process involves transferring some of the decision-making power and authority from the superior to the subordinate. It is an important tool for managing workload, improving efficiency, and driving results. The delegation process involves clearly defining the scope of authority and responsibility that the subordinate has been delegated and the expectations of the delegate. The superior must also provide the resources, information, and support necessary for the delegate to accomplish the task successfully.

So, The correct option is 2) defining the goal.

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Explain how conflict management depends on a study of interpersonal communication. Why should we study conflict

Answers

"An stated conflict involving at least two interdependent parties that see competing objectives, scarcity of resources, and outside interference with their objectives".

The goal of effective conflict resolution techniques is to prevent arguments from getting worse . You'll be better able to teach and learn from people in both the professional and personal resources if you have dispute interdependent abilities. It will be highly beneficial for every employee to get to know one another and to avoid conflicts that could result in labour disputes through effective interpersonal communication. Openness and empathy are the two aspects of interpersonal communication that are most important in reducing labour conflict.

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A manager can increase return on investment (ROI) by doing which of the following?
a. Decrease operating expenses
b. Increase operating expenses
c. Increase operating assets
d. Decrease sales

Answers

Option (a) . A manager can increase return on investment (ROI) by decrease operating expenses.

What's included in operating expense?

Operating expenses — also known as selling, general and administrative expenses (SG&A) — are the costs of doing business. This includes rent and utilities, marketing and advertising, sales and accounting, administration and management salaries.

What are the 3 operating expenses examples?

If these costs are included, examples include auditor fees, bank charges, debt settlement costs, and interest costs. The definition of operating expenses may be extended to include the cost of goods sold, thereby covering all operational aspects of a business.

Where the operating expenses?

A company operating expenses, sometimes called OpEx, are reflected in the income statement. Along with non-operating expenses, it helps companies to calculate profitability.

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What is an example of an irregular or variable expense?

Answers

An example of an irregular or variable expense is home repairs. These can range from small fixes like changing a lightbulb to major repairs such as replacing the roof.

The cost of these repairs can vary depending on the type and extent of the repairs needed.

A cost that changes in accordance with a certain type of activity is called a variable expense. For instance, the cost of direct materials rises as sales do. Commissions, billable labour, piece rate labour, and credit card fees are examples of additional variable costs. Few costs in a firm are actually changeable.

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Is insurance important for everyone?

Answers

Yes, insurance is important for everyone as it has benefits for every individual of any age.

Insurance provides financial protection against unexpected risks such as illness, injury, or death. It helps to protect individuals, families, and businesses from financial hardship due to potential losses.

Insurance helps to cover medical expenses, repair or replace damaged property, and provide income if the policyholder is unable to work due to illness or injury.

Insurance can also provide peace of mind by allowing individuals to plan for their future and protect their assets. By having insurance, individuals can have access to resources that can help them to manage their risk and secure their financial future.

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Which of the following measures would not help managers to control and improve operations?
a) units produced per time period
b) cost trends of a product
c) yield trends
d) commissions paid per time period

Answers

The commissions paid per time period of the following measures would not help managers to control and improve operations.

What is the cost?

A cost is the amount of money that has been spent to produce something or provide a service and is thus no longer accessible for use. In business, the cost could be one of acquisition, in which case the money spent to obtain it is recognized as cost. In this situation, money is the input that is used to purchase the item.

The term refers to that commissions paid per time period pay commission monthly, quarterly, or annually. A business may want to wait until the sales contract is signed and finalized.

Therefore, Thus option (D) is correct. As commissions paid per time period may not help the managers to control or improve.

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What is one way that technology can improve the production of goods websites can allow consumers to purchase goods online?

Answers

Customers can buy products online using websites. Multiple items can be transported simultaneously using container ships. Automation makes it easier and more affordable to produce items.

A client is someone who makes a purchase from a seller, vendor, or supplier of goods, services, products, or ideas in exchange for cash or another beneficial consideration. Sales, business, and economics are all covered by this term. Regular, sustained commerce is made possible by customers who frequently transact with a seller. This allows the seller to develop statistical models to improve supply chains and production procedures. The Latin word "clientus," which meaning "to incline" or "to bend," is where the term "client" originates. It has something to do with the sentimental idea of closure. It is widely believed that regular changes are only made by people when they are motivated by fear or greed. Since gaining a client is such a rare occurrence, experts who can deal with particular difficulties are in high demand.

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PRODUCTIONS

Technology can improve the production of goods in many ways, but one of the most common is through websites. Websites allow consumers to easily search for products, compare prices and features, and purchase goods online. They also enable companies to automate their order processing, keep track of inventory, and provide customer service. Additionally, websites can be used to advertise products, build brand awareness, and engage customers in marketing campaigns.

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Which of the following formulas would you choose to calculate the future balance on an account that earns compound interest? O FV = PV" x (1 + i) O FV = (PV x i)" O FV = PV x (1 + i)" O FV = PV x (1 + i) xt

Answers

Comparing operations and activity to additional evidence is the process of reconciliation.

Where is the utility of simple interest?

When acquiring credit card loans, auto loans, student loan debt, consumer loans, and occasionally even mortgages, simple interest is frequently employed. Compound interest, on the other hand, is frequently employed to increase long-term investment returns for things like 401(k)s and many other assets.

Why is straightforward interest useful?

Because they have to pay less interest than loans with compound interest, simple interest debt are quite advantageous for borrowers. The underlying loan balance on the payment due date determines how the interest is computed in a straightforward loan.

Compound interest: FV = PV / (1+I)^N

Simple interest: FV = PV + (PV x I x N)

a. True

b. False

a. True

Explanation:

accumulated interest

FV = PV / (1+I)^N

simple interest

FV = PV + (PV x I x N)

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What are the factors that influence the zone of tolerance?

Answers

There are four factors that influence the level of adequate service, namely transitory service intensifiers, perceived service alternative, customer self-perceived service role and situational factors.

What are the factors zone of tolerance?Time, place, situation, and culture all play a part in defining the range of tolerance.Temperature, humidity, soil chemistry, pH, salinity, and oxygen levels are just a few of the physical, abiotic (non-living) elements that have an impact on where organisms can exist. They have tolerance ranges for the abiotic environmental situation, much as species have geographic ranges.Four fundamental models of tolerance—religious, medical, anthropological, and psychological—have been identified via study and interpretation of the scientific literature.People who are tolerant display strength by being able to handle opposing viewpoints. Another benefit of tolerance is that it can aid in personal growth. Tolerance also makes peaceful coexistence possible.

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Steven and Sally have income from all sources (taxable and nontaxable) totaling $139,506. Their taxable income is $114,706. Their tax liability is $16,815. Their average tax rate is % (rounded to the nearest whole number).

Answers

Their average tax rate is 15%. An income statement's final line item before the bottom line, or net income, is often the tax expense.

The ratio at which a company or individual is taxed is known as the tax rate, and it is typically stated as a percentage. Statutory, average, marginal, and effective tax rates are some of the ways that are used to display them. When applied to a tax base, the phrases inclusive and exclusive might be used to present these rates. The rate imposed by law is known as a statutory tax rate. A sales tax might have a flat statutory rate, whereas an income tax might have several statutory rates for various income levels. The statutory tax rate, which is calculated as a percentage, is always greater than the actual tax rate. If an individual's gross annual income exceeds Rs. 2,50,000 during a fiscal year, they are required to file an ITR. For older folks, this restriction is more than Rs.

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a rich country that opened its borders to trade with a poor country would cause in the long run?

Answers

In addition to increasing efficiency, international trade also enables nations to take part in a global economy.

when a wealthy nation and a developing nation sign a free trade agreement?

According to the Samuelson Critique, if a rich country and a poor country engage into a free trade agreement that lowers wages in the richer country, the reduced prices that the inhabitants of the richer country pay may not be enough to generate a net gain for that economy.

What consequences does global trade have?

International commerce frequently results in price drops for consumer products, boosting the welfare of citizens in importing nations. Greater welfare improvements may result from lower consumption expenses than from changes in income.

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Who is the group of people MOST likely to purchase a company's products?
O A.marketing mix
О в.target market
O C.primary audience
O D. advertising audience

Answers

Option B is correct.A target/goal market is a crew of customers with shared demographics who have been recognized as the most likely buyers of a company's product or service.

Why is goal market important?

Having the right target market helps you decide where to find practicable purchasers who are looking for what you have to offer. If you have a target market, you know where to concentrate your advertising and marketing efforts and what to provide that is compelling and properly received.

For example, a children's toy may additionally have boys a while 9–11 as the target market and the boys' mother and father as the target audience. It may additionally also be defined as the consumer segment most likely to be influenced through an advertising campaign. The target market is also awesome from the buyer persona.

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Hotel clerks, amusement park workers, and travel agents all work in careers found in the _____ career cluster.

Answers

Hotel clerks, amusement park workers, and travel agents all work in careers found in the hospitality & tourism career cluster.  a collection of occupations that emphasise giving people food, lodging, aid to travellers, and enjoyable activities.

Career clusters are collections of similar job categories. They provide you with a simple approach to investigate several job types under a single broad clerks. Start with one of the clusters, such as construction or health care, to understand what it entails, current trends, and the various careers it provides. The information and abilities that learners need as they take a route toward their career goals are identified by career clusters. Whether learners are in high school, college, technical training, or the workforce, the recognised knowledge and skills provide a solid foundation for learner success.

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A tax rate on a building with a $530,000 taxable value is 4.5 mills per thousand dollars of assessed valuation. What is the annual tax liability

Answers

$2,385. A tax rate on a building with a $530,000 taxable value is 4.5 mills per thousand dollars of assessed valuation By definition, a tax liability is simply the amount of money.

owing by a business or person to a taxing entity, such as the Internal Revenue Service (IRS).  Set it up like this to find the answer to this;mIf $1000 has a taxable value of 4.5 mills, how much would 530,000 pay If $1000 = 4.5 so $530,000's tax obligation would be equal to (530,000 * 4.5) / 1,000. = 2,385,000/ 1000 = $2,385 The amount that a person, company, or other organization owes to a federal, state, or local tax body is known as their tax liability. In general, you owe taxes when you earn money or make gains off of the sale of an investment or other item.

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Which type of MCO has achieved the greatest success in employment-based enrollment?
Select one:
A. HMOs
B. PPOs
C. POS plans
D. Exclusive provider plans

Answers

In terms of employment-based enrolment, (B) PPOs are the MCO type that has had the most success.

A Preferred Provider Organization (PPO) explains what it is?

A well-liked health insurance program for singles and families is a preferred provider organization (PPO). Networks of health insurance providers and contracted medical practitioners are used in PPOs. The insurer's plan subscribers can receive services from medical facilities and practitioners at a discounted price through preferred providers. Both in-network and out-of-network healthcare providers are covered by the plan, and plan participants are entitled to the full PPO benefit when they see them.

Samuel Jenkins, a member of the Segal Group who advised hospitals regarding Taft-Hartley trust funds, proposed that the PPO be set up at the St. Luke's Medical Center in Denver.

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A large share of the world supply of diamonds comes from Russia and South Africa. Suppose that the marginal cost (and ATC) of mining diamonds is constant at $1,000 per diamond, and the demand for diamonds is described by the following schedule:
Table 2: Demand for Diamonds
Price Quantity
$8,000 5,000
7,000 6,000
6,000 7,000
5,000 8,000
4,000 9,000
3,000 10,000
2,000 11,000
1,000 12,000
(a) If there were many suppliers of diamonds, what would be the price and quantity?
(b) If there were only one supplier of diamonds, what would be the price and quantity?
(c) If Russia and South Africa formed a cartel, what would be the price and quantity? If the countries split the market evenly, what would be South Africa's production and profit? What would happen to South Africa's profit if it increased its production by 1,000 while Russia stuck to the cartel agreement?
(d) Use your answers to part (c) to explain why cartel agreements are often not successful.

Answers

(a) the market would reach equilibrium at a price of $3,000 and a quantity of 10,000 the intersection of the demand, marginal cost curves, where quantity supplied equals the quantity demanded.

(b) If there were only one supplier of diamonds, what would be the price and quantity?

(b) If there were only one supplier of diamonds, the supplier would have a monopoly and would set the price at the profit-maximizing level, which is the price where marginal revenue equals marginal cost. In this case, that would be $3,000 per diamond, as at this price, the quantity demanded would equal the quantity supplied. The quantity would be 10,000.

What would happen to South Africa's profit if it increased its production by 1,000 while Russia stuck to the cartel agreement?

(c) If Russia and South Africa formed a cartel, they would collude to set a higher price, such as $6,000, in order to increase their profits. The quantity would decrease to 7,000. If the countries split the market evenly, South Africa would produce and sell 3,500 diamonds, earning a profit of $3,500,000 (3,500 x $1,000). If South Africa increases its production by 1,000 while Russia sticks to the cartel agreement, South Africa's profit would decrease to $2,000,000 (2,500 x $1,000) as it would have to sell the additional diamonds at the cartel price, earning only $6,000 per diamond instead of $1,000.

Use your answers to part (c) to explain why cartel agreements are often not successful.

(d) Cartel agreements are often not successful because members have incentives to cheat on the agreement by increasing production to capture a larger share of the market. This can lead to a decrease in the overall price and profits for all members, as seen in the example above with South Africa increasing production. Additionally, new entrants may enter the market, breaking the cartel's control over the market. Furthermore, governments often intervene to prevent the formation of cartels or to break them up, as they can lead to higher prices for consumers and can restrict competition in the market.

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Angie’s Cupcake Shop replaced the tables and chairs in the shop. The old furniture was 7-year property and was in its third year of depreciation when it was sold in May. The original cost of the furniture was $8,200 and was depreciated using the half-year convention. Angie will be able to deduct $____ in depreciation during the year of sale. 717 (don’t forget about the half year convention. Multiply the 1434 by 0. 5)The mid-quarter convention is used for all assets purchased during the year when more than ____% of the tangible ____ property purchased is placed in service during the fourth quarter of the year

Answers

Angie will be able to deduct $717 in depreciation during the year of sale.

What is depreciation?

Depreciation is an accounting technique for spreading out the expense of a tangible item over the course of its useful life. How much of an asset's value has been used is shown through depreciation. It enables businesses to purchase assets over a predetermined length of time and generate income from those assets.

According to the question the original cost of the furniture was $8,200.

The half-year convention means that the furniture is depreciated over 7 years (the useful life of the asset) with half the usual depreciation taken in the first and last year

In the third year of depreciation, the furniture would have been depreciated by

1/2(1/7) x $8,200 = $471

However, since the furniture was sold in May, only half of that year's depreciation can be taken.

So,

$471 x 0.5 = $235.50

Adding that amount to the previous two years' depreciation:

$235.50 + $471 + $471 = $1178.50

The mid-quarter convention is used for all assets purchased during the year when more than 40% of the tangible property purchased is placed in service during the fourth quarter of the year.

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Please select the newly answerable business questions that emerged in the ""modern age"" of marketing

Answers

With the end of World War I, the modern era of marketing began. Utilizing all of a company's resources to give customers the best experience possible and spur business growth is modern marketing.

According to a recent McKinsey survey, marketing is a key factor in most or all of a company's growth agenda, according to 83 percent of worldwide CEOs. Large volumes of messages and content can be developed continuously, monitored by performance analytics, and then changed as necessary in a modern marketing company.

Broad offers and experiences across significant consumer segments are referred to as personalization. Today, the objective of modern age of marketing is to creatively deliver as much relevant one-to-one marketing as possible by leveraging data from all consumer interactions.

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What is meant by the invisible hand? Explain thoroughly using these terms in your explanation; “competition” “self-interest” “self-regulating

Answers

Answer:

The invisible hand is the term in economics and political philosophy for the invisible mechanism that drives a free market system, coined by economist Adam Smith. Ever since then, it has been a central concept for economists and conservative politicians in their arguments for a pure, non-state intervention free market, laissez-faire policy.  

In his analysis, Adam Smith argued that the free market itself is a mutually beneficial arrangement that occurs in itself, spontaneously, as if some invisible hand is operating, by a chain of thousands of exchanges without participants thinking anything about the consequences.

Therefore, through competition guided by the market participants' self interests, all market participants would benefit in a collateral way, provided that there is a proper self regulation of the market, and not a regulation guided by the government.

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