--%>
Assignment Help - homework help

Define the natural price by Adam Smith

In words of Adam Smith, who theorized that the “natural price” of a good based most directly upon the: (1) wage rate and the relative amount of labor required to produce the good. (2) greater of the value of the good “in use” and the value of the good “in exchange”. (3) usefulness of the good in fulfilling human desires. (4) sum of the intrinsic and extrinsic values of the good. (5) long run demand for the good.

Please choose the right answer from above...I want your suggestion for the same.

   Related Questions in Business Economics

  • Q : Theory of wages according to Adam Smith

    Least consistent along with Adam Smith’s theory of wages would be the suggestion that wages vary positively along with the: (w) effort required to learn skills necessary to accomplish particular types of work. (x) stability of employment and the

    		•
  • Q : Explain the term Price Earnings Ratio

    Briefly explain the term Price Earnings Ratio (or P/E Ratio)?

    		•
  • Q : Argument on quantity theory of money by

    David Hume, who said about money such as “Tis none of the wheels of operate. Tis the oil’,” exposed a main error within mercantilism through explaining what is currently considered to as the: (w) quantity theory of money. (x) price l

    		•
  • Q : Heterodox pricing process Compare the

    Compare the costing and pricing process of heterodox pricing process to the procedures utilized in neoclassical microeconomics to set prices.  In what ways are heterodox prices altered from neoclassical prices?

    		•
  • Q : Factors of account since the Second

    For rapid growth of world trade what are the factors of account since the Second World War?

    		•
  • Q : Determine the lowest average wages

    Consider a huge group of identically smart and strong industrious workers. All else identical, Adam Smith would predict such that the lowest average wages would be earned through the workers who were in the work that: (1) had the leas

    		•
  • Q : Society decide its optimal point on the

    How does society decide its optimal point on the production possibilities curve?

    		•
  • Q : Describe the Functional distribution of

    Describe the Functional distribution of income?

    		•
  • Q : Briefly state the pros and cons of

    Briefly state the pros and cons of Partnership?

    		•
  • Q : Utilitarianism of Jeremy Bentham with

    The utilitarianism of Jeremy Bentham would clash most strongly along with the philosophic principles of: (w) the epicureans who followed the teachings of Epicurus [c. 341 to 271 BC]. (x) hedonism. (y) the Greek philosophers and mediev

    		•