how did the time in which Jean-Baptiste Say lived might have influenced his thinking?

Q: What are some of the primary ideas of philosopher Karl Marx? What did Marx see during his lifetime…

A: Karl Marx was a revolutionary, sociologist, historian, and economist, whose full name was Karl…

Q: What are the things that we can learned from Adam Smith's Wealth of Nation that related to modern…

A: Adam Smith is known as father of economics who gives a lot of theories related to economics which…

Q: Why did Malthus err in predicting that families would have more children as incomes increased?

A: Malthus was an economist who propounded the theory of population stating some checks as well as…

Q: Explain the weaknesses of Malthusian Theory?

A: The Malthusian theory was developed by the 18th-century economist Thomas Malthus who introduced…

Q: How are both realist, liberal and constructivist views represented

A: There has been a striking resemblance in between the realism and constructivism that would be…

Q: What are the basis of concepts taught in macroeconomics?

A: Macroeconomics is a branch of economics that studies how an overall economy behaves that is, how the…

Q: Economics came from the Greek word Oikos which means scarcity. Select one: True False

A: Scarcity: It refers to the problem of resources that are limited in the economy and wants of the…

Q: Who did John Maynard Keynes advise with his economic theory?

A: The macroeconomic economic theory of total expenditure in the economy and its consequences on…

Q: Would a good economic model be more likely to address a positive statement or a normative statement?…

A:

Q: explain how intertemporal choice  is elaborated in economics?

A: Intertemporal Choice: The intertemporal choice is an economic model that explains present decision…

Q: From where concept of economic planning is derived?

A: Economic Planning is the process in which the limited natural resources are used skillfully so as to…

Q: Since everyone has the same needs, we can therefore say that scarcity is an absolute term. Is this…

A: Scarcity is a very important economic problem which shows the difference between the unlimited wants…

Q: What is the purpose of building a theory?

A: Theories are explanation of natural or human behaviour or an event. Theory building helps us in…

Q: Predict the meaning of Adam Smith’s three key ideas.

A: Adam Smith is a Classical economist known as the father of economics. He is famous for his book that…

Q: Please explain classical and neo-classical from schools of thought.

A: New classical theories emerged around 1900.

Q: Pros and cons of classical school of thought

A: The Classical school's key theory was that markets perform best when they are left alone, and that…

Q: what are the three approches in measuring economics activity? why do they give the same answer

A: Economic activity means when a country is economically active that means there is some activity…

Q: How does Marx’s analysis provide insight into the movie China Blue

A: This can be described as a form of market in which no single producer or consumer has the power to…

Q: what are some real-life examples of macroeconomics?

A: Gross Domestic Product: GDP is the total value of all goods and services produced within a country's…

Q: Can you describe the limitations of classical economics in terms of enhancing economic conditions?

A: The significance of free markets and little government involvement is emphasized by classical…

Q: What is the Strength of the Malthusian Theory?

A: Malthusian Theory: The rise in the number of people and the strain it exerts on the resources of the…

Q: hat is a basic definition of per diems? what are the pros and cons of per diems?

A: Per diems: It refers to the expenses and it is a Latin expression that signifies "for every day."…

Q: What were Thaler's three criticisms about the "Econ" model of behavior?

A: The study of economic decisions influenced by psychological factors is known as behavioral…

Q: the father of classical school of economics was Adam Smith? a. True b. False

A: Adam Smith is considered the father of Classical economics, he had written “The Wealth of Nations”…

Q: What can increase the standard of living in the Malthusian​ model?

A: Before the industrial revolution, the Malthusian economy was the economic system that characterised…

Q: why is the economy not self-correcting? What can be done about it?

A: The principle that if economy is left to its own devices is called self-correcting. When an economy…

Q: What was one of John Mayland Keynes’s major economic belief

A: John Maynard Keynes was an early 20th-century British economist, regarded as the founder of…

Q: According to Forbes Magazine, there are close to 2700 billionaries in the world. It is likely fair…

A: Scarcity refers to the economic phenomenon where the resources are not sufficient to meet all demand…

Q: Who did Milton Friedman advise with his economic theory?

A: Milton Friedman was an American economist and statistician who believed strongly in free market…

Q: Does the discipline [of economics] have sufficient predictive power to play an important role in our…

A: Economics is a social science that studies how individuals, governments, firms, and nations make…

Q: what are some other things that the Coke employees who sold the secret recipe to Pepsi should have…

A: Economist always make decisions under rationality. Because rationality gives them better choice and…

Q: Why did Henry George (American Economist) pay particular attention to his popularity and legacy?

A: Henry George (September 2, 1839 – October 29, 1897) was a political economist, journalist, and…

Q: What is Adam Smith's thesis real life example in modern days?

A: The center of Smith's thesis was that people's common inclination toward personal interest (or in…