Q. Who put forward the ‘ Theory of Distribution ‘ ?
Solution:
J.B Clark – Marginal Productivity Theory
David Ricardo – Theory of Distribution
Alfred Marshall – Elasticity of Demand
Laissez Faire Theory – Adam Smith
Ricardo discussed the theory of distribution. This theory is based on the marginal and surplus principles. The marginal principle explains the share of rent in national output and surplus principle explains the division of the remaining share between wages and profits.
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