CA Foundation Notes

🎯CA Foundation Economics : 1. Alfred Marshal (British)- -Demand -Time concept -Diminishing utility -Marginal Utility Approach -Time element to differentiate market -Welfare -Study of Mankind 2. Adam Smith - -Nature & Causes of Wealth of Nation (1776). -Father of Economics -Definition of Wealth 3. Joel Dean - Business Economics 4. JB Say - Economics is science of growth 5. Nicholas Kaldos - Cobweb theory 6. HA Simon - Satisfying Behavior 7. Olaf Hamler - Delphi Method/Expert Opinion 8. Hicks & Allen - Indifference Curve 9. L Robbins - -Nature & Significance of Economics -Scarcity of resources -Positive science 10. Samuelson - Growth of business 11. AC Pigou - -Measuring rod of money -Welfare in economy Business -Optimism & pessimism 12. F Knight - Risk 13. Schumpeter - Innovation 14. A.A Berle & GC Means - Separation of management and ownership 15. Williamson - Profit Maximization 16. Baumol - Revenue Maximization 17. RL Marris - management goal of stability & growth 18. Paul Sweezy - Kinked demand curve 19. Hawtrey - Monetary 20. Karl Marx & Frederick Engels - -Socialist Economy -The Communist Manifesto (1848) 21. Cyert & March - 4 possible functional goals: production, inventory, sales, market 22. Chamberlin - Group Behavior 23. Cobb Douglas = Capital ¼ Labour ¾ 24. Jacob Viner - Economics is what economists do 25. Thorstein Veblen - Conspicuous consumption/ Veblen Goods 26. Robbert Giffen - Giffen Goods 27. Keynes - Aggregate Effective Demand 28. Peter Drucker Aim - Create & Retain customer 29. David Easton - Feedback or Black box model Save this for your last minute revision.🤗

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