An expression introduced by Adam Smith as an analogy for the way in which the working of market allows economic activity to be co-ordinated without any central organization. Self-interest working through markets induces people to produce goods and services to meet the needs of other people whom they may never meet and for whom they need feel no goodwill. Equally, the market system allows people to satisfy their own wants from the produce of others who are similarly only connected with them through markets. The invisible hand is not a panacea, lacking the ability to deal with the provision of public goods, externality, monopoly and problems of income distribution.

• nominal variable
• nominee holding
• non-accelerating inflation rate of unemployment
• non-contributory pension scheme
• non-discrimination
• non-durables, consumer
• non-executive director
• non-inflationary growth
• non-intersecting curves
• non-linear function
• non-marketable debt
• non-marketed economic activities
• non-monetary job characteristics
• non-negative
• non-parametric statistics
• non-performing debt
• non-positive
• non-price competition
• non-satiation
• non-systematic risk
• non-tariff barriers
• non-tradables
• non-voting share
• normal distribution
• normal good