Who was the founder of the classical school of economics

Reference no: EM133341598

Questions:

Who was the founder of the "classical" school of Economics, and what was his key belief?
When and why did classical school lose its influence?
What is the main idea of J.M. Keynes in regard to government involvement in the economy?
When was the United Nations found, and what is its main goal?
When and why did the Keynesian economic school lose its influence?
Why is the post-2008 period challenging for Economics as a science?
What is the key [sometimes false] assumption of Micro-based Economics?
What is the key [sometimes false] assumption of Macro-based Economics?
What is the benefit of a market system of a good allocation over a government system?
What is the benefit of a government system of a good allocation over a market system?
Why is the demand potentially unlimited? What does limit the demand?
If the price of a normal good goes up, the demand goes...where? Why?
If the price of a normal good goes down, the demand goes...where? Why?
What is the "non-satiation" assumption?
Describe the competitive market?
Describe monopoly?
Describe oligopoly?
Describe monopolistic competition?
What is market failure?
Why is K-12 education a market failure?
Why is insulin a market failure?
Why is climate change a market failure?
Why is public transport a market failure?
Why is Google a market failure?
Why industrial food production is a market failure?
What are the two strategies to solve a market failure that we discussed in class?
What constitutes rational behavior?
Is it rational to plan to buy apples but then change your mind and buy potatoes if the prices of both haven't changed? Describe your logic.
Is it rational to buy electric cars because you want to reduce your carbon footprint? Describe your logic.
Is it rational to eat junk food? Describe your logic.
Is it rational to hoard gas when everyone is hoarding gas? What will happen as a result of everyone acting rationally in this situation?
Is it rational to sell stocks during the crisis (assuming you don't have an urgent need for money and your goal is long-term investment returns)? Describe your logic.
What is utility? What are the pros and cons of using the utility function to explain human behavior?
What is the main contribution of the game theory to Economics?
What is the Tragedy of the Commons? Why does it happen? How can we solve it?
What is the elasticity of demand? How do people use it for business purposes?

Reference no: EM133341598

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