Principles of Economics, Volume 1 |
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ability action Adam Smith agents of production aggregate agricultural amount applied BOOK BOOK IV BOOK VI capital and labour causes chapter chiefly classes commodity consumers consumption cost of production cultivation demand and supply demand price derived difficulty diminishing return doctrine duction earnings economic economists efficiency employers England English equal equilibrium expenses of production fact factors of production factory give governed greater growth hand important improvements income individual industry influence instance kind land law of diminishing less lower machinery manufacture marginal utility material mediæval ment modern monopoly revenue national dividend nature partly perhaps person Physiocrats pleasure population producer's surplus profits purchasing quasi-rent rate of profits reckoned regard relations rent result Ricardo rise skill social sumers supply curve supply price surplus theory things tion trade true wages wants wealth whole