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Net Economics #Classical Economists and their work# Economic theory

 Net Economics #Classical Economists and their work# Economic theory Pls follow , like and share Classical economics, also known as classical political economy, is a school of economic thought that emerged in the late 18th and early 19th centuries. It laid the foundation for modern economics and was dominant until the late 19th century. Classical economists focused on understanding the mechanisms of economic growth, production, and distribution of goods and services in market economies significant contributions and the years in which they were active: Adam Smith (1723-1790): Major Work: "The Wealth of Nations" (1776) Contributions: Smith is often referred to as the father of economics. In "The Wealth of Nations," he introduced the concept of the invisible hand, arguing that individuals pursuing their own self-interest in a free market economy unintentionally promote the general welfare. He also discussed the division of labor, productivity, and the role of markets i

11 Reason to be sucessful in Net Jrf Economics exam

  11 Reason to be sucessful in  Net Jrf Economics exam  1) Interested in the mind- Start developing mentally that you are learning best ie Economics , it's particularly important that you're interested in and engaged with your subject. 2) Aptitude for Mathematical Economics - Interpreting visual data like graphs and some  basic Mathematics like Calculus, Linear algebra and statistics will help you in basic prepartion of Net Exams.You should work on this .  3) Knowledge of  Basic Economics - Read Basic books to make your concept clear.This will help you to understand complex Economics concept. 4) Understanding Diffrent theories of scholars - Read some concepts Theories of Classical, Neo classical , Keynes and other scholars.which will be help you to start on your prepartion 5) Self Motivated - Self driven, Committed, Concentrated, Trust yourself. 6) Time Management-Successful students should plan their weeks  well in advance  to complete their study. 7) Admitting you don't u

Idea of Mercantilism:

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  Idea of Mercantilism: Idea of Mercantilism: Insitute of Economics and Management studies M/7737896705 The predominant arrangement of financial idea that won in Europe from sixteenth to eighteenth Century was Mercantilism. It was known by various names in various nations. In England it was called as business framework or commercial framework since it accentuated the significance of business and deregulation. It was otherwise called "Prohibitive framework" since its reasonable approaches comprised of various limitations and guidelines on business. In France it was known as "Colbertism" after the name of Colbert, the Finance Minister of Louie the XIV. In Germany and Austria it was classified "Cameralism". It was otherwise called "Bullionism" in light of the significance given to gold and silver. Mercantilist thinkers did not form a group, advocating a fixed line of thought and policy. They were businessmen, merchants, administrators, in different

CLASSICAL Economics

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 CLASSICAL Economics Classical Economics (Traditional financial aspects) is broadly viewed as the main current school of monetary idea. The expression "old style" alludes to work done by a gathering of market analysts in the eighteenth and nineteenth hundreds of years. Its significant engineers incorporate Adam Smith, David Ricardo, Thomas Malthus and John Stuart Plant. A lot of their work was creating hypotheses about the manner in which markets and market economies work. Coming when Mercantilism held influence, accentuating the boosting of products and limiting imports, old style financial experts advanced a profoundly unique methodology. They basically viewed the economy as ready to keep up with its own balance through market influences, and that administration mediation as fake duties or different obstructions that upset the free progression of labor and products were hurtful to the economy. Old style financial aspects ( Classical Economics) was a significant scholarly ac

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