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Q. Describe Classical Economics?
Classical Economics:Tradition of economics which began with Adam Smith and continued with other theorists including Thomas Malthus, David Ricardo, Jean-Baptiste Say and others. Classical economists wrote in the early years of capitalism and they uniformly celebrated productive, innovative actions of new class of industrial capitalists. They focused on political development and dynamic economic of capitalism, analysed economics in class terms and advocated the labour theory of value.
Income and Substitution Effects: Normal Good * The Special Case--The Giffen Good - The income effect may be large enough theoretically to cause the demand c
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relationship between tfc , tvc , tc
Measures to control inflation: Fiscal policy is one of the two main macroeconomic policies used to control aggregate demand and thereby achieve economic stability. Fiscal meas
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What are the basis for International Trade?
what is the relevance of microeconomic analysis in contemporary Nigerian economy
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