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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

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

IMPORTANT QUESTION 12 CBSE ECONOMICS ( INDIAN ECONOMIC DEVELOPMENT

                                      IMPORTANT QUESTION 12 CBSE ECONOMICS ( INDIAN ECONOMIC DEVELOPMENT) For Macroeconomics pls click the link in the end of page. Macroeconomics 1.How does investment in Human Capital contribute growth. 2.What is NABARD .Explain its role in rural credit.Explain any three Insitutional and noninsitutional source of credit 3.What is rural and urban poverty.It is correct to say that poverty has been shifted  from rural to urban. Give reasons for your answer. 4.Write short notes on MGNREGA and PRADHAN MANTRI JHAN DHAN Yojna. 5.Why did India and Pakistan introduce reforms?                                                  6. What was common in the development strategy of India, China and Pakistan during 1950-1990?   .                                          7.When was the Great Proletarian Cultural Revolution introduced in China?          8.Mention feature of China’s economy. 9.What is the important implication of the ‘one child norm’

CBSE 12 MACROECONOMICS TOP 20 IMPORTANT QUESTION

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CBSE 12 MACROECONOMICS TOP 20 IMPORTANT QUESTION https://en.m.wikipedia.org/wiki/Central_Board_of_Secondary_Education www.iemsnet.com CBSE TOP 20 NationalIncome. https://www.iemsnet.com/2020/01/national-income.html?m=1 What is difference between stock and flow.   Explain why GDP is not exact welfare for the society.  State the precaution of various methods of National Income. Explain 2 sector model of circular flow of income State the difference between GDP at current price and GDP at constant price also state which of two is reliable index and why. CBSE 12 MACROECONOMICS TOP 20 IMPORTANT QUESTION Banking What do you  understand the term credit creation. Explain the process of credit creation with the help of numerical example.  Explain functions of commercial Bank. Explain how central bank create credit. Determination of income and employment https://www.iemsnet.com/2020/01/ugc-net-keynesian-theory-of-income-and.html?m=1 What is defcient deman

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