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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

Analysis of Net Management

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  Analysis of Net Management There were 3 important features of  exam   for Management: 1. The NTA has started giving questions, which are framed by creating, more than one option correct. Such questions increase difficulty level of question paper. Earlier such questions were asked in UPSC exams, but hardly in UGC exams. There were 25 questions of this type. This is a big change. 2. Earlier UGC exams were keyword based. You needed to understand meaning of a list of keywords and you are ready. Bur now, the focus is getting more and more on conceptual clarity. You need to understand big picture. Students need to understand application of concepts in Business world. 3. There were more than 15 such questions, which required just acumen of business student. The students should easily get them right just by eliminating smart choices. 4.  There were 10 RC based questions, which were on “application of concepts”. Vey easy. 5. Except 2-3 questions, there were nothing, which can be considered “o

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