Explore the concept of the invisible hand, a fundamental economic theory proposed by Adam Smith, illustrating how individual self-interest benefits society.
Dive deep into classical economics, the school of thought that dominated the 18th and 19th centuries, influencing modern economic policies and concepts. Understand its key theories, contributors, and the transition to Keynesian economics.
Explore the historical and economic significance of the Labor Theory of Value, its key proponents, and its impact on price determination in commodity exchange.
Explore the concept of absolute advantage in economics, as developed by Adam Smith, and learn how it drives global trade and specialization.
Unpack the fundamentals of Rational Choice Theory, exploring how individuals make decisions based on rational calculations to align with personal interests.
