Showing posts with label BUSINESS ECONOMICS 2. Show all posts
Showing posts with label BUSINESS ECONOMICS 2. Show all posts

Thursday, May 16, 2019

COMPARISON BETWEEN RICARDIAN THEORY OF RENT AND MODERN THEORY OF RENT


  • DIFFERENCE BETWEEN RICARDIAN THEORY OF RENT AND MODERN THEORY OF RENT
    MICRO ECONOMICS/BUSINESS ECONOMICS
  • RICARDIAN THEORY OF RENT
  1. DAVID RICARDO FIRST OF ALL GAVE A SYSTEMATIC THEORY OF RENT IN HIS BOOK,” PRINCIPLES OF POLITICAL ECONOMY AND TAXATION
  2. PRIOR TO RICARDO,PHYSIOCRATES AND ADAM SMITH REGARDED RENT AS THE RESULT OF BOUNTY OF NATURE
  3. BUT ACCORDING TO RICARDO RENT IS RESULT OF NIGGARDLINESS OF NATURE
  4. PRIOR TO RICARDO CLASSICAL ECONOMIST ANDERSON HELD THE OPINION THAT RENT ARISES BECAUSE OF DIFFERENCE IN FERTILITY OF LAND
  5. ACCORDING TO RICARDO,” RENT IS THAT PORTION OF THE PRODUCE WHICH IS PAID TO THE LANDLORD FOR THE USE OF ORIGINAL AND INDESTRUCTIBLE POWER OF THE SOIL.

QUASI RENT


  • QUASI RENT
  • MICRO ECONOMICS
  • MEANING

Thursday, April 18, 2019

UNCERTAINTY BEARING THEORY OF PROFIT


  • UNCERTAINTY BEARING THEORY OF PROFIT
  • MICRO ECONOMICS/BUSINESS ECONOMICS 2
  • SHASHI AGGARWAL ECONOMICS AND LAW CLASSES
  • UNCERTAINTY BEARING THEORY OF PROFIT
  1. GIVEN BY PROF FRANK H. KNIGHT
  2. PROFIT IS THE REWARD FOR BEARING UN INSURABLE FUTURE UNCERTAINTY
  3. PROFIT IS NOT THE REWARD FOR MANAGING AND COORDINATING THE BUSINESS.
  4. IT IS THE REWARD EXCLUSIVELY FOR UNCERTAINTY BEARING IT.
  • TYPES OF RISK