Adam smith’s principles of economics were modified in 1803 by Jean-Baptiste Say, a French businessman, who wrote a treatise on political economy.
<h3 /><h3>What is economics?</h3>
The investigation of shortage and how it influences resource utilization, service and product productivity, income changes, and wellbeing through time is called Economics.
There are mainly three types of economic system which includes capitalism, socialism, and mixed economic system depending on various countries.
Jean-Baptiste Say, a French entrepreneur who published a book on politics and economics, modified Adam Smith's economic principles, which include the laws of self-interest, competitiveness, and both supply and demand, in 1803.
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If the sentence above is trying to ask whether it is true or false, the answer is false. It is ethical egoism does not view the moral judgment in terms of the beliefs of the society, but rather, it only does a judgment or an obligation because of their own self and not because of the society. That's why the answer is false.
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Such society exists even today in Middle East, Africa, Tibet, Middle Asia and Northern part of Nepal.
These societies rely on the cultivation of fruits, vegetables, and plants in order to survive. such societies are often forced to relocate when the resources of the land are depleted or when the water supplies decrease.The technological advances led to an increase in food supplies, an increase in population, and the development of trade centers.
