[경제학] Adam Smith

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경제학 에세이에서 A 받은 것 입니다.

목차

Question: Discuss in detail what it means for an economy to make use of resources in a “most efficient” manner? Within the context of your response to this question, illustrate in detail using several examples whether or not Adam Smith’s fundamental plan regarding how the production process in a firm should be organized is consistent with the goal of using resources in a “most efficient” manner.

본문내용

The meaning of a “most efficient” manner for an economy is that how to get the maximizing output within given the limited resources that are available. Most of resources to produce goods are limited such as natural resources, labor resources or environmental situations. However, people want to make outputs maximized with these conditions due to their egoistic to get more and instinct of wealthy.
This concept was referred initially in the “ An Inquiry into the Nature and Causes of the Wealth of Nation, 1776” by Adam Smith. At that time, people suffered from the lack of many resources severely because it was the first step of the industrial revolution. Under this condition, it was natural that people were interested in only the ‘supply’, not the ‘demand’ because only if they produced, they were sold out. So, many economics theory were developed focused on the production, not the demand. Adam Smith asserted that the solutions of increasing production were ‘division of labor’ and ‘specialization’

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