What did classical economists assume about the flexibility of prices wages and interest rates?

Classical economists assumed that prices, wages, and interest rates are flexible and adjust quickly to changes in supply and demand. They believed that this flexibility allows markets to clear, meaning that excess supply or demand would be temporary as adjustments occur. Consequently, classical theory posited that the economy tends toward full employment in the long run, as any unemployment would be resolved through wage and price adjustments. This assumption is a foundational aspect of their views on how economies function efficiently without the need for government intervention.