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Utilities of index number in economics?
what is mean by statistical approach and economical approach in the theory of index numbers?
Whose theory of economics believed in a hands-off approach with respect to the government's involvement in the economy?
adam smith
Scope of micro and macro economics?
theory of income and employment: theory of general price level and inflation theory of economics macro theory of distribution' theory of international trade
Who is theory of economics believed in a hands off approach with the respect of the government involvement in the economy?
The theory of economics that advocates for a hands-off approach regarding government involvement in the economy is known as laissez-faire economics. This concept is closely associated with classical economists like Adam Smith, who argued that free markets operate most effectively without government intervention. Proponents believe that allowing the forces of supply and demand to dictate market dynamics leads to optimal outcomes for society.
Explain in details the relationship between economics facts theory and policy?
explain in details the relationships between economics facts, theory and policy.
Define cardinal approach?
The cardinal approach in a careful approach that states that utility is measurable. The ordinal approach disagrees with this theory.
Utilities of index number in economics?
what is mean by statistical approach and economical approach in the theory of index numbers?
What are the similarities between cardinal and ordinal approach?
they both obey the diminishing returns theory
Whose theory of economics believed in a hands-off approach with respect to the government's involvement in the economy?
adam smith
The cardinal utility approach which asumes that utility is quantified has been criticised extentively are these criticism enough to make the theory null and void?
No
What has the author Massimo De Felice written?
Massimo De Felice has written: 'De Finetti's probabilistic approach and the theory of expectations in economics'
What are the Limitations of cardinal utility?
give the limitations of cardinal utility theory
Scope of micro and macro economics?
theory of income and employment: theory of general price level and inflation theory of economics macro theory of distribution' theory of international trade
What has the author Howard Nicholas written?
Howard Nicholas has written: 'Marx's theory of price and its modern rivals' -- subject(s): Prices, Microeconomics, BUSINESS & ECONOMICS / Economics / Theory, Marxian economics, BUSINESS & ECONOMICS / Economics / Comparative, BUSINESS & ECONOMICS / Economics / Macroeconomics
What has the author Nick Wilkinson written?
Nick Wilkinson has written: 'An introduction to behavioral economics' -- subject(s): Rational choice theory, Economics, Psychological aspects 'An introduction to behavioral economics' -- subject(s): Economics, Psychological aspects, Psychological aspects of Economics, Rational choice theory 'An introduction to behavioral economics' -- subject(s): Rational choice theory, Economics, Psychological aspects
What has the author Jati K Sengupta written?
Jati K. Sengupta has written: 'Applied mathematics for economics' -- subject(s): Economics, Mathematical, Mathematical Economics 'Control theory methods in economics' -- subject(s): Control theory, Economics, Mathematical, Mathematical Economics
What has the author Sajal Kumar Chattopadhyay written?
Sajal Kumar Chattopadhyay has written: 'ECONOMICS OF NURSING HOME CARE IN CONNECTICUT: FINANCING, COST AND EFFICIENCY' -- subject(s): Economics, General, Economics, Theory, General Economics, Theory Economics
