color of law definition: nThe conduct of a police officer, judge, or another person clothed with governmental authority that, although it superficially appears to be within the individualâs lawful power, is actually in contravention of the law. For exampl...
What is 'Neoclassical Economics'. Neoclassical economics is an approach to economics that relates supply and demand to an individual's rationality and his ability to maximize utility or profit. Neoclassical economics also uses mathematical equations to study of various aspects of the economy.
Definition of 'neoclassical'. neoclassical. Neoclassical architecture or art is from the late 18th century and uses designs from Roman and Greek architecture and art. The building was erected between 1798 and 1802 in the neoclassical style of the time. COBUILD Advanced English Dictionary. Copyright Â© HarperCollins Publishers