According to legend, Santa Claus (@) knows the toy preferences of children around the world. Since Santa alone decides what each child gets, and since the North Pole elves take orders directly from Santa, the North Pole is a prime example of a A/ (traditional/centrally-planned/market) economy By contrast, the First Welfare Theorem of economics implies that the "invisible hand" of the real-world A/ (traditional/centrally- planned/market) economy matches the A/ (highest/lowest) cost toy sellers with the (highest/lowest) value toy buyers. As a result, the same number of toys are delivered to children around the world "as if" Santa Claus actually made and delivered them