The Economics of Industry

ability action Adam Smith advantages agents of production agricultural amount arities artisans average benefit capital and labour causes CHAPTER chief chiefly classes commodity competition consumption corn laws cost cultivation demand and supply demand price Diminishing Return division of labour dose duction Earnings of Management economic economists effect efficiency employers England equal evil expenses of production factors of production factory faculties give governed grade greater growth hand higher important income increase industry influence instance investment kinds land lative less lower machinery manual labour manufacturer marginal marginal utility material modern national dividend nature necessary normal occupation person population principle of substitution producer's surplus purchase rate of interest rate of profits raw produce regard rent rise skill social supply price surplus tend tendency things tion towns trade utility wages wants wealth workers