Theories and Concepts of Advanced Economic Theory

Description

An economy is a system of inter-related production and consumption activities that ultimately determine the allocation of resources within a group. The production and consumption of goods and services as a whole fulfill the needs of those living and operating within it.While there is no established numerical convention to determine whether an economy is advanced or not, they are usually defined as having a high level of per capita income, a very significant degree of industrialization, a varied export base, and a financial sector that's integrated into the global financial system. This book “Theories and Concepts of Advanced Economic Theory” explores the concept of economic efficiency and the concept of utility and its critique. It also includes latest development in the field which is helpful for both students and economists who wants to gain in-depth understanding about the conceptualization of economy.