Question

The Classical model of economic
development emphasises on :​

Answer 1

Explanation:

The fundamental principle of the classical theory is that the economy is self‐regulating. The classical doctrine—that the economy is always at or near the natural level of real GDP—is based on two firmly held beliefs: Say's Law and the belief that prices, wages, and interest rates are flexible. ...

OR

The classical growth theory argues that economic growth will decrease or end because of an increasing population and limited resources. Classical growth theory economists believed that temporary increases in real GDP per person would cause a population explosion that would consequently decrease real GDP.