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We are Sharing With You CA Foundation Economics Last Minutes Revision Important Keyword or Concepts and Their Authors . So kindly Check Out our http://www.castudynotes.com website and ALL the Best for Your Upcoming Exams.
CA STUDY NOTES
🎯CA Foundation Economics (Last Minutes Revision) Important Keyword or Concepts and Their Authors :
Alfred Marshal (British)-
-Demand
-Time concept
-Diminishing utility -Marginal Utility Approach
-Time element to differentiate market
-Welfare
-Study of Mankind
Adam Smith –
-Nature & Causes of Wealth of Nation (1776).
-Father of Economics
-Definition of Wealth
Joel Dean –
Business Economics
JB Say –
Economics is science of growth
Nicholas Kaldos –
Cobweb theory
HA Simon –
Satisfying Behavior
Olaf Hamler –
Delphi Method/Expert Opinion
Hicks & Allen –
Indifference Curve
L Robbins –
-Nature & Significance of Economics
-Scarcity of resources
-Positive science
Samuelson –
Growth of business
AC Pigou –
-Measuring rod of money
-Welfare in economy
Business
-Optimism & pessimism
F Knight –
Risk
Schumpeter –
Innovation
A.A Berle & GC Means –
Separation of management and ownership
Williamson –
Profit Maximization
Baumol –
Revenue Maximization
RL Marris –
management goal of stability & growth
Paul Sweezy –
Kinked demand curve
Hawtrey –
Monetary
Karl Marx & Frederick Engels –
-Socialist Economy
-The Communist Manifesto (1848)
Cyert & March –
4 possible functional goals: production, inventory, sales, market
Chamberlin –
Group Behavior
Cobb Douglas =
Capital ¼
Labour ¾
Jacob Viner –
Economics is what economists do
Thorstein Veblen –
Conspicuous consumption/
Veblen Goods
Robbert Giffen –
Giffen Goods
Keynes –
Aggregate Effective Demand
Peter Drucker
Aim – Create & Retain customer
David Easton –
Feedback or Black box model
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