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Tag Archives | Neo-Classical Economics

Difference between Pure Rent and Quasi Rent

The upcoming discussion will update you about the difference between pure rent and quasi rent. (i) Pure rent is a payment to the land while quasi rent is paid to factors like labour, capital and organisation. (ii) The supply of land is fixed permanently. Pure rent is therefore permanent whereas other instruments of production like […]

Top 14 Contributions of Alfred Marshall to Economics

The following points highlight the top fourteen contributions of Alfred Marshall to Economics. Some of the contributions are: 1. Definition and Laws of Economics 2. Marshall Method 3. Wants and Their Satisfaction 4. Marshallian Utility and Demand 5. Consumer’s Surplus 6. Elasticity of Demand 7. Supply and Cost 8. Factors of Production and Others. 1. […]

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