What term do economists use to describe the self-regulating nature of the marketplace?

The term that economists use to describe the self-regulating nature of the marketplace is the "Invisible Hand." This concept, introduced by Adam Smith, suggests that individuals pursuing their own self-interest can lead to positive social and economic outcomes. When individuals make decisions based on personal benefit, they inadvertently contribute to the overall economic welfare by allocating resources efficiently. The "invisible hand" implies that through the process of competition and personal motivation, the marketplace can adjust itself to meet the demands of consumers without direct governmental intervention.

In contrast, "Market Equilibrium" refers specifically to the point where the quantity of goods supplied equals the quantity of goods demanded, but does not encompass the broader concept of self-regulation. "Supply and Demand" are fundamental economic principles that describe the relationship between the quantity of goods available and the desire of consumers to purchase them, but they do not capture the underlying mechanism of self-regulation implied by the "invisible hand." Lastly, "Economic Freedom" relates to the ability of individuals to participate in economic activities and make choices in the marketplace, but it does not directly address the automatic regulation that occurs through the actions of self-interested individuals.