From which two theorists did alfred marshall borrow the concept of the importance of cost to the supply of goods?
a)adam smith and david ricardo
b)léon walras and william stanley jevons
c)david ricardo and léon walras
d)anton menger and adam smith
From which two theorists did alfred marshall borrow the concept of the importance of cost to the supply of goods?
a)adam smith and david ricardo
b)léon walras and william stanley jevons
c)david ricardo and léon walras
d)anton menger and adam smith
a. Adam Smith
Just did the quiz and got it right have a good day.
Option A.
Explanation:
Adam Smith and David Ricardo, is the right answer.
Alfred Marshall is regarded as one of the best economists of his age. He is one who was involved in the founding of one of the most influential School of Economics known as the Neoclassical School. Although his economics was promoted as additions and distillations of the practice of Adam Smith, David Ricardo and some others, he prolonged economics away from its classical locus on the market economy and rather generalized it as a study of human behavior.
1. All of the following were powers given to the federal government by the National Banking Acts of 1863 and 1864 EXCEPT D. to dismantle privately owned banks 2. When economists measure opportunity cost to help determine the true value of economic decisions, they consider both the D. monetary and human value. 3. Which of the following was NOT an economic institution created in Europe to help foster economic unity among the countries there? D. European Union (EU) 4. Though the challenges of decision making are similar at all levels of the economy, B. the impact decreases as more people are involved. I think that the impact decreases as more people are involved because these people will be able to analyze many more aspects involving a decision as well as its corresponding consequences. The decision made will be a result of consensus among the people involved for the benefit of the majority if not all. 5. All EXCEPT which of the following options could describe the statement below? You get something and you give up something else. B. consumer sovereignty – This is a situation where the desire of the consumer affects the production of their desired goods. 6. Who proposed the first bank of the United States? B. Alexander Hamilton – He officially proposed the creation of the first bank during the first session of the First Congress. 7. As an economic institution, nonprofit organizations include D. professional organizations. The main purpose of these organizations is to make their profession better or more valuable for the people practicing the profession as well as for the benefit of the general public. 8. In economics, economic institutions serve to A. help establish and keep participation in the economy fluid. 9. Who is credited with first using cost-benefit analysis? B. Jules Dupuit – A French engineer and economist. He wrote an article in 1848 where the concept of Cost-Benefit analysis was presented.
Adam Smith and Davis ricardo
No.4 above me is incorrect.
1. Thorstein Veblen.
2. Alfred Marshall.
3. Alfred Chandler, Jr.
4. Economies of throughput ('economies of speed').
5. First mover advantage.
6. Planned obsolescence.
7. The rule of reason.
Explanation:
1. Thorstein Veblen: Economist who observed that "invention is the mother of necessity."
2. Alfred Marshall: Economist whose Principles of Economics marked the theoretical separation of politics and economics.
3. Alfred Chandler, Jr.: Economic historian who wrote, The Visible Hand: The Managerial Revolution in American Business.
4. Economies of throughput ('economies of speed'): Realizing lower costs by maintaining a high speed and volume of flow from raw materials to finished goods.
5. First mover advantage: The competitive edge a business gets from being the first to adopt a new technology which will become the standard.
6. Planned obsolescence: Designing a product to have a limited useful life in order to encourage future sales.
7. The rule of reason: The rule developed by the Supreme Court to make the Sherman Act workable in an era in which businesses were organizationally and technologically compelled to restrain trade
The answer you're looking for is; John Maynard Keynes
Choice D.
Adam Smith and Davis ricardo
Option A.
Explanation:
Adam Smith and David Ricardo, is the right answer.
Alfred Marshall is regarded as one of the best economists of his age. He is one who was involved in the founding of one of the most influential School of Economics known as the Neoclassical School. Although his economics was promoted as additions and distillations of the practice of Adam Smith, David Ricardo and some others, he prolonged economics away from its classical locus on the market economy and rather generalized it as a study of human behavior.
D. John Maynard Keynes
The answer is on multiple websites, I'm not so sure you actually need for this one.