the theories began to shift to explain trade from a firm, rather than a country, perspective. These theories are referred to as classical  and are firm-based or company-based.Question 4AnswerTrueFalse

Explain theory of firm.

48.The neo classical economic theory emerged in the background of :  A. Technological revolution  B. Expansion of business  C. Contraction of business  D. Industrial Revolution

…………………………………. originated through direct production. Trade originated due to…………………………………(b) Commerce is the combination of ………………………………… and …………………………….17. (a) Business organizations face ……………………………. to earn profit and it is called as…………………………………(b) ………………………………. developed due to ………………………….. occurred in 18th century.18. (a) The business environment which can be controlled by business is called as …………………………….and the business environment which affects the cost of a business is called as…………………………………(b) Wastes generated in ………………………… and in ………………………. are a great globalchallenge at present.19. (a) The intervention of government on businesses takes place through central, ……………………………..and ………………………………. levels of government.(b) …………………………………. means the equal distribution of gross production of the country amongthe total population of the country. Further, ………………………… stabiluty occurs by controllinginflation in the economy

n economic theory that trade generates wealth and that trade should be mostly focused on exports to protect the national economy.Group of answer choicesColonialismInvisible handMercantilismTariff

The group that talks about economic theory is:  A. Neo classical group  B. Keynesian group  C. Classical group  D. The not so classical group