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.
Learn more about Jean-Baptiste Say, here:
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Mrs. Markie is taking a whole-language approach to teaching reading. Whole-language approach for teaching languages emphasizes that children should focus on meaning and strategy instruction by trying to read complete sentences to understand the communication achieved trough the language. This method contrasts with phonics-based methods that emphasizes instruction for decoding and spelling.
In an economic system with monopolies and cartels that fix the price of goods, the end result for consumers is that consumers are given worse choices and pay a higher price. This is a result of the lack of competition in the market that would drive prices down and offer more choices to consumers.
