How the classical school evolved to the marginalist?

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 theory is biased on the idea that two economic systems capitalism and socialism will eventually…

A: In economics, there are different approaches to see the world and there are different ways to deal…

Q: In a Capitalistic economy, due to the "mixed market" and economic freedoms that are a part of this…

A: Kinds of economic systems regulate economic choices in various nations. They utilize different…

Q: Marx’s historical materialism created a revolution in political economy. Why? Identify and summarize…

A: Karl Marx's historical materialism: Karl Marx theory was based on the expansion of the capitalist…

Q: What does the Powerbar model tell us about how creativity fits into a market economy?

A: Ans-    Market power model means a broader market which existing rebranding bar.  It is constant…

Q: What did mercantilism see as the economic goal for society? Why was poverty seen as essential?…

A: Mercantilism was an economic theory and practise popular in Europe from the 16th to the 18th…

Q: What are the two broad meanings of Socialism?

A: 1).any of various economic and political theories advocating collective or governmental ownership…

Q: What is purpose of Marxist Theory ?

A: Marxist theory is more concerned with philosophy. His theory shows the political and economic way of…

Q: Marx held that to understand the fundamental relationships of capitalism, one had to look at the…

A: Why one had to look at the sphere of production? As per Karl Marx version of economics, People…

Q: What is Neoclassicism in economics?

A: In economics, neoclassicism alludes to a school of thinking that created in the late nineteenth…

Q: Friedrich Hayek advocated for an economic system based on

A: In 1899, in Vienna, Austria, a famous economist was born. Friedrich Hayek is well-known in the…

Q: a. The minimum wage creates unemployment among young and unskilled workers.

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

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: The individualism view of capitalism assumes that individuals are inherently self-serving, but…

A: Individualism: a philosophical and political viewpoint puts essential significance on the…

Q: Describe the differences between free market and collectivist societies.

A: A market is a structure or system where buyers and sellers interact to trade products, services, or…

Q: Analyze three ways that societies can organize themselves economically. Justify reasons most modern…

A: The three ways in which societies organize themselves economically are discussed below:

Q: Karl Marx envisioned a perfect society that would be based on a smoothly running capitalist system…

A: Communist society is a type of societal structure postulated in the Marxist thought that…

Q: Who invented capitalism?

A: Economies are classified into different forms based on the characteristics of their market. Some…

Q: How does the welfare state help stabilise the capitalist system?

A: How does the welfare state help stabilize the capitalist system? Capitalism(private ownership)…

Q: f. If consumer income increases, other things equal, the demand for automobiles will increase.

A: Positive Economics refers to which that deals with economic issues related to past, present, and…

Q: Positive or Normative?

A: Positive economics and normative economics are two types of economic analysis.

Q: Please help me connect the transformation of aswang in the views of Karl Marx, Durkheim, and weber.…

A: The foundation of schools of social work, often known as classic sociological theory, was built by…

Q: Use the theory of the invisible hand to analyze events in everyday life.

A: Answer: The theory of invisible hand is given by the classical economist Adam smith. According to…