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CA Foundation Economics : 1. Alfred Marshal (British)- -Dema | CA Foundation Grooming Education

CA Foundation Economics :

1. Alfred Marshal (British)-
-Demand
-Time concept
-Diminishing utility -Marginal Utility Approach
-Time element to differentiate market
-Welfare
-Study of Mankind

2. Adam Smith -
-Nature & Causes of Wealth of Nation (1776).
-Father of Economics
-Definition of Wealth

3. Joel Dean -
Business Economics

4. JB Say -
Economics is science of growth

5. Nicholas Kaldos -
Cobweb theory

6. HA Simon -
Satisfying Behavior

7. Olaf Hamler -
Delphi Method/Expert Opinion

8. Hicks & Allen -
Indifference Curve

9. L Robbins -
-Nature & Significance of Economics
-Scarcity of resources
-Positive science

10. Samuelson -
Growth of business

11. AC Pigou -
-Measuring rod of money
-Welfare in economy
Business
-Optimism & pessimism

12. F Knight -
Risk

13. Schumpeter -
Innovation

14. A.A Berle & GC Means -
Separation of management and ownership

15. Williamson -
Profit Maximization

16. Baumol -
Revenue Maximization

17. RL Marris -
management goal of stability & growth

18. Paul Sweezy -
Kinked demand curve

19. Hawtrey -
Monetary

20. Karl Marx & Frederick Engels -
-Socialist Economy
-The Communist Manifesto (1848)

21. Cyert & March -
4 possible functional goals: production, inventory, sales, market

22. Chamberlin -
Group Behavior

23. Cobb Douglas =
Capital ¼
Labour ¾

24. Jacob Viner -
Economics is what economists do

25. Thorstein Veblen -
Conspicuous consumption/
Veblen Goods

26. Robbert Giffen -
Giffen Goods

27. Keynes -
Aggregate Effective Demand

28. Peter Drucker
Aim - Create & Retain customer

29. David Easton -
Feedback or Black box model

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