Criticism of marginal theory:
Below are some of the points of criticism against the marginal productivity theory of distribution:
1) Each and every product is a joint product and its value can’t be separately attributed to either labor or capital. Again, it is rather hard to measure the “productivity” of some categories of labor such as lawyers, doctors, and teachers who render services.
2. The theory acquires into account only by the factors executing on the side of demand by avoiding the supply side. For illustration, whenever there is scarcity of a factor, it is paid much greater than the normal price.
3. The theory depends on the supposition of perfect competition and complete employment. However in the real world, we have merely imperfect competition; we do not encompass perfect competition.
4. In practice, it is quite hard to vary the utilization of the factors of production.
5. The theory does not hold with it any ethical justification. When we accept the theory, it means that factors acquire the value of what they generate. For illustration, workers in a firm might get low wages not since their productivity is low however since there might be exploitation of labor. Therefore we must not make utilization of this theory to justify the existing system of asymmetrical distribution.
We might note that despite of above points of criticism against the theory, it elucidates the role of productivity in the determination of factor prices. In terms of Marshall, “the doctrine throws in clear light one of the causes which govern wages”.
Latest technology based Economics Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Marginal Productivity help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Marginal Productivity, project ideas and tutorials. We provide email based Marginal Productivity help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Marginal Productivity. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics Homework help and assignment help services. They use their experience, as they have solved thousands of Economics assignments, which may help you to solve your complex issues of Marginal Productivity. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
Laws and Application of Polarization tutorial all along with the key concepts of Brewster's Law, Percentage of Polarization, Malu's Law, Application of Polarization, Saccharimetry, Photoelectric Stress Analysis, Use of Polaroids in Sunglasses
www.tutorsglobe.com offers Organometallic Reagents homework help, Organometallic Reagents assignment help, online tutoring assistance, Organic Chemistry solutions by online qualified tutor's help.
tutorsglobe.com membrane transport assignment help-homework help by online cell membrane tutors
The significant objectives of the uniform costing - To help for meaningful and valid cost comparison between the members, To locate and eliminate inefficiencies in the firm by measuring own efficiency in terms of industry generally and in terms of close rivals in particular.
LC Oscillators tutorial all along with the key concepts of Time Domain Solution, Resonance Effect, Series LC Circuit, Impedance, Parallel LC Circuit, Applications of Resonance Effect, LC OR Oscillatory Circuit, Frequency Stability of Oscillator
The cause that we are regarded as to whether one company is a subsidiary of another is, of course, that group financial statements must be ready in which there is a parent/subsidiary relationship, but not otherwise.
radioactive decay processes tutorial all along with the key concepts of kinetics of radioactive decay, decay mode and energy, chain reaction, nuclear fusion reactor and nature of radiation
tutorsglobe.com standard entropy assignment help-homework help by online entropy tutors
www.tutorsglobe.com offers transportation algorithm for minimization problem, modi method, lpp solution, assignment help and homework help.
tutorsglobe.com geitonogamy assignment help-homework help by online self pollination tutors
Learning-Communication and Social behavior tutorial all along with the key concepts of Habituation, Classical conditioning, Instrumental conditioning, Latent learning and Insight learning
difference between pal and ntsc - channel bandwidth, video bandwidth, video if, sound if, horizontal frequency, frame frequency
periodic table-classification of elements tutorial all along with the key concepts of periodic law, description of the periodic table, groups of periodic table and transition elements
Analytical Chemistry tutorial all along with the key concepts of Applications of Analytical Chemistry, Scope of Analytical Chemistry, Function of Analytical Chemistry, classification of analytical methods, Gravimetric analytical method, Chromatographic analytical method
tutorsglobe.com fresh water crisis and management assignment help-homework help by online environmental science tutors
1960028
Questions Asked
3689
Tutors
1490743
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!