Classical economics or classical political economy is a school of thought in economics that flourished, primarily in Britain, in the late 18th and early-to-mid 19th century. Its main thinkers are held to be Adam Smith, Jean-Baptiste Say, David Ricardo, Thomas Robert Malthus, and John Stuart Mill.

Keynes’ theory of employment is based on the principle of effective demand. In order to understand the concept of effective demand we have to visualize two prices operating in the economy, viz., aggregate demand price and aggregate supply price.

The classical theory of employment is based on the assumption of flexibility of wages, interest and prices. This means that wage rate, interest rate and price level change in their respective markets according to the forces of demand and supply.

The classical theorists are those who are foundational theorists – they are the pioneer thinkers. Among them are included Marx, Weber, Durkheim and Simmel. Though these thinkers have not taken the concept of modernity in a formal way, their works indicate that they are concerned with the processes of modernization.

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. …

Adam Smith

Amartya Sen has been called the Mother Teresa of Economics for his work on famine, human development, welfare economics, the underlying mechanisms of poverty, gender inequality, and political liberalism. 2.

Pamulaparthi Venkata Narasimha Rao (28 June 1921 – 23 December 2004) was an Indian lawyer and politician who served as the 9th Prime Minister of India from 1991 to 1996.

Mahatma Gandhi

India (Hindi: Bhārat), officially the Republic of India (Hindi: Bhārat Gaṇarājya), is a country in South Asia. It is the second-most populous country, the seventh-largest country by land area, and the most populous democracy in the world.

Prem Behari Narain Raizada

Vishal Tewari

The British constitution

Albert Venn Dicey

Explanation: constitution is that body of rules and regulations which help any country to govern or regulate it. it is called organic in my words as organic means made at farm in same manner constitution is made up through government of India act,1935 plus the important articles it borrowed from 49 countries.

It is the reason laws exist and it guarantees them statutory protection. …

4 Answers. It comes from Middle English modyr in lawe. As far as I understand it, the term was first used in the 14th or 15th century. The idea behind it is that your mother-in-law has the same rights and duties as your biological mother and is given these rights and duties by the legal pact of marriage.

The plural of mother-in-law is mothers-in-law. The possessive of mother-in-law is mother-in-law’s. To get the plural possessive, do both those things: put the plural S on mother and the possessive S and apostrophe on law: “It was their mothers-in-law’s idea.”

1 : the mother of one’s spouse. 2 archaic : stepmother.

A mother-in-law is the mother of a person’s spouse. Two women who are mothers-in-law to each other’s children may be called co-mothers-in-law, or, if there are grandchildren, co-grandmothers.

daughter-in-law the wife of your son.

Dear mother-in-law, we appreciate all the ways you help our family. Dear mother-in-law, we hope your special day is full of cherished memories. Dear mother-in-law, thank you for everything you have done for our family. Dear mother-in-law, thank you for raising your son to be such a loving provider to his family.