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Priyanka posted an Question

July 02, 2021 • 21:31 pm

30 points

UGC NET
Management

Please explain nei classical theory?

please explain neo classicla theory and systems theory?

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Pratibha goswami9

Neo Classical theory of Management deals with the behavior aspect of organizations. it defines that organizations are social system and an organization total success is dependent on people in the organisations are behaving and how their behavior can affect the organisations performance
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Priyanka

???
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Vikas Gupta

Defination :- Neoclassical economics is a broad theory that focuses on supply and demand as the driving forces behind the production, pricing, and consumption of goods and services. It emerged in around 1900 to compete with the earlier theories of classical economics. keys:- Classical economists assume that the most important factor in a product's price is its cost of production. Neoclassical economists argue that the consumer's perception of a product's value is the driving factor in its price. They call the difference between actual production costs and retail price the economic surplus.
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plz explain in management term
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One of the key early assumptions of neoclassical economics is that utility to consumers, not the cost of production, is the most important factor in determining the value of a product or service. This approach was developed in the late 19th century based on books by William Stanley Jevons, Carl Menger, and Léon Walras.
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thnku
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kindly accept my answer.
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