In this article we will discuss about Classical Theory of International Trade:- 1. Introduction to International Trade 2. Need for a Separate Theory of International Trade 3. Problems 4. Assumptions 5. Summary 6. Critical Evaluation 7. Modifications 8. Theory of Comparative Cost and Underdeveloped Countries. Introduction to International Trade: Internal or inter-regional trade means trade […]
Classical Theory of International Trade: Need, Problems, Assumptions & Summary
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Theory of Wages: Top 6 Theories (With Criticisms)
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Read this article to learn about: 1. The Subsistence Theory of Wages 2. The Standard of Living Theory of Wages 3. The Wage Fund Theory of Wages 4. Residual Claimant Theory of Wages 5. Modern Theory of Wages 6. Marginal Productivity Theory of Wages Some of these theories are discussed below: 1. The Subsistence Theory […]
Theories of Profit in Economics
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There has been a strenuous effort on the part of thinkers and economists to comprehend the notion of ‘profit’ and develop their views. This endeavour to explore the sources of profit has led to the emergence of various theories of profit in economics. It would be wise to understand the gist of the main theories. […]