Business Economics
Classical economics is a school of thought that emerged in the late 18th and early 19th centuries, focusing on free markets, competition, and the idea that economies naturally tend toward equilibrium. It emphasizes the role of individual self-interest in promoting economic prosperity and believes that limited government intervention is necessary to allow markets to function efficiently. This framework connects with various aspects of economic systems, macroeconomic indicators, national income, aggregate demand, fiscal policy, and macroeconomic adjustments.
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