(History of Economic Thought) Questions 1-) What wre the factors that contributed to the decline of...

(History of Economic Thought) Questions

1-) What wre the factors that contributed to the decline of the feudal system?

2-) What were the two phases of mercantilism? Give dates for these phases. What was the focus of the economists in these phases?

3-) What are the three classes that we see in the Tableau? Define and explain each briefly.

4-) According to Adam Smith, does the amount of direct and inirect labor used up in the production of a commodity determine the Exchange value of that commodity in all social formation? If not, in which social formations would be direct and indirect labor used up in the production of a commodity would determine its Exchange value?

5-) What is the difference between the ‘market price’ and the ‘natural price’?

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Rahul Sunny answered 1 week ago

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