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 (a)  

(a)   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 (a)  

Labour is eternal to humankind and can be (a)   or unskilled