In the Classical System,output and Employment Are Primarily Dependent on

question 33

Multiple Choice

In the classical system,output and employment are primarily dependent on

• A)population,productivity,and technology.
• B)technology,capital formation,and thrift.
• C)population,technology,and capital formation.
• D)productivity,thrift,and population.

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Definitions:

Neoclassical Schools

An approach in economics that focuses on the determination of goods, outputs, and income distributions in markets through supply and demand.

Sociological Schools

Different theoretical frameworks within sociology that propose various interpretations and analyses of social phenomena, behaviors, and institutions.

Markets Operate

The manner in which economic markets function, involving the exchange of goods and services between buyers and sellers.

Major Revolutions

Significant and often sudden changes in political, social, or economic order, usually accomplished through force or protest.