Foundations of Political Economy Quiz

_________ studies the basis of the development of the societies

_________ is the science of the development of socio-production or economic relations between people

Political economy studies ________ with specific focus on the social relationships of production

__________ economy is concerned mainly with the removal of inhibitions to expansion of capital in the productive process

Laissez faire political economy is also called _________

Which of the following economy argues against the utility of restriction in international trade?

• Classical Political Economy

• Communist Political Economy

• Marxian Political Economy

• Neo-Classical Political Economy

Marxian Political Economy was proposed by ___________

__________ argued that all commodity value is determined by labour content- both the direct labour and indirect labour embodied in capital equipment

The conscious and purposeful activity of people to produce material wealth is referred to as __________

Labour is eternal to humankind and can be _________ or unskilled