Question

What is meaning of classical Thoughts???



okk this is last question bye ​

Answer 1

The main idea of the Classical school was that markets work best when they are left alone, and that there is nothing but the smallest role for government. The approach is firmly one of laissez-faire and a strong belief in the efficiency of free markets to generate economic development.

Answer 2

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☞Classical economic theory was developed shortly after the birth of western capitalism. It refers to the dominant school of thought for economics in the 18th and 19th centuries. ... Theories to explain value, price, supply, demand, and distribution, was the focus of classical economics.

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