Select the right chronological order. (i) Says Law of Markets (ii) Theory of Surplus Value (iii) Theory…
Quesnay’s Tableau économique dates to 1758, before Smith’s exposition of absolute advantage in The Wealth of Nations in 1776. Say’s Treatise followed in 1803, while Marx’s…
Choose your answer
Select the right chronological order.
(i) Says Law of Markets
(ii) Theory of Surplus Value
(iii) Theory of Absolute Advantage
(iv) Tableau Economique
Answer and explanation
Correct answer C
Quesnay’s Tableau économique dates to 1758, before Smith’s exposition of absolute advantage in The Wealth of Nations in 1776. Say’s Treatise followed in 1803, while Marx’s developed account of surplus value belongs to the later nineteenth century, including Capital in 1867. These publication landmarks establish the sequence from physiocracy through classical trade and markets to Marxian distribution.
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UGC NET Economics