The Two Economists Associated with the Development of the Theory

question 167

Multiple Choice

The two economists associated with the development of the theory of monopolistic competition were

• A) Joan Robinson and Edward Chamberlin.
• B) David Hume and Adam Smith.
• C) John Neville Keynes and John Maynard Keynes.
• D) Carl Menger and Eugen Von Bohm-Bawerk.

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Definitions:

Moral

Relating to principles of right and wrong behavior and the goodness or badness of human character.

Unemployment

The state of being without a paid job despite actively seeking employment.

Poverty

A socio-economic condition marked by a severe lack of financial resources or means necessary to meet basic living needs.

Social Factors

Elements within society that influence how individuals and communities experience life, including education, culture, and economic conditions.