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Questions › UGC-NET › UGC-NET 2023 › Q52
2 marksMacroeconomics › Classical political economy › Adam Smith on value, labour and growthModerateabout 1 min

UGC-NET 2023 Question 52: Classical political economy

Adam Smith's contributions are:

A. Division of labour.

B. Notion of increasing returns.

C. Notion of diminishing returns.

D. Dialectical Materialism.

E. Socially necessary abstract labour time.

Choose the correct answer from the option given below:

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Classical political economy has come up 27 times in 4 exams since 2010.

What this question tests

This question is on Adam Smith on value, labour and growth, part of Classical political economy in Macroeconomics.

Smith's ideas on the division of labour, the invisible hand and how markets grow.

TestStop has 9 past-paper questions on this subtopic.

Take this paper as a timed mockMore on Adam Smith on value, labour and growth

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Question from the UGC-NET 2023 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.