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1. Minimal government intervention. The forces of free market will guide production, exchange, and distribution.2. Self interestedness of economic behavior. Think of the old quote by Adam smith that...
Classical approach to management is dated back to the Industrial Revolution. the classical approach was an approach that places reliance on such management principals as unity of command, a balance...
Neoclassical economics is a term variously used for approaches to economics focusing on the determination of prices, outputs, and income distributions in markets through supply and demand, often as...