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Classical economics concept No1 you have to make more then you did last year or you are in recession. Take into account the concept of compound percentages and we will have to produce goods for three Earths in 80 years time. there is a challenge for inbuilt obsolescence
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In contrast with classical economics keynesian economics does what?
In contrast with Classical economics, Keynesian economics takes a broader view of the economy
What is the adjustment process in classical economics?
economics
In contrast with classical economics, Keynesian economics _____.?
takes a broader view of the economy
In economics what is classical dichotomy?
It is a concept in classical economics, that monetary forces could influence the general price level but had no effect on real activity
Definition of cardinal approach theory in economics?
this approch is also known as uttility approch or classical approch because it was very presented by the classical or orthodox economics
Who was the author of the classical theory?
The classical theory in economics was developed by Adam Smith, often considered the "Father of Economics," in his seminal work "The Wealth of Nations" published in 1776. Smith's ideas form the foundation of classical economics and focused on the concepts of free markets, self-interest, and the invisible hand guiding market outcomes.
In contrast with classical economics keynesian economics does what?
In contrast with Classical economics, Keynesian economics takes a broader view of the economy
What is the adjustment process in classical economics?
economics
Can economics be a substitute of maths?
No. Economics uses a subset of mathematical concepts.
In contrast with classical economics Keynesian economics .?
takes a broader view of the economy
In contrast with classical economics, Keynesian economics _____.?
takes a broader view of the economy
In economics what is classical dichotomy?
It is a concept in classical economics, that monetary forces could influence the general price level but had no effect on real activity
Definition of cardinal approach in economics?
this approch is also known as uttility approch or classical approch because it was very presented by the classical or orthodox Economics
What is the similarities between classical and Keynesian school of thoughts in economics?
Keynesians say that government should interven in economic activities where as classical say not too
Definition of cardinal approach theory in economics?
this approch is also known as uttility approch or classical approch because it was very presented by the classical or orthodox economics
What are the characteristics of classical economics?
the law of suply and demand
Comparison of classical and neo classical economist?
classical economists are those economists who used 'scarce resources' concepts in their economic theories where as neo ones used price output income distribution like concepts in their theories.
