Classical economists believed that in a free market economy there was a tendency toward the establishment of full employment of labour and there was sufficient demand for the output produced.
Classical theory of employment and output is based on the following two basic notions:
1.Say's Law
2.Wage -price flexibility
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Classical theory of employment and output is based on the following two basic notions:
1.Say's Law
2.Wage -price flexibility
for details visit www.gurukpo.com
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