Who is known as the father of Economics? [#919] | SPPMMC

Who is known as the father of Economics? [#919]

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Q1. Who is known as the father of Economics?
Q1. Who is known as the father of Economics?

(A) David Richardo
(A) David Richardo
(B) Alfred Marshall
(B) Alfred Marshall
(C) Adam Smith
(C) Adam Smith
(D) Lionnel Robbins
(D) Lionnel Robbins
Answer: (C) Adam Smith
Answer: (C) Adam Smith
Adam Smith is considered the father of modern economics. The 18th-century Scottish economist, philosopher, and author is credited with giving economics a well-defined shape as a new discipline. Smith is known for arguing against mercantilism and being a major proponent of laissez-faire economic policies. He believed that the government should not interfere with the economy, and that free-market issues would fix themselves. Smith also believed that individual decisions, driven by self-interest, collectively guide the market to optimal equilibrium.
Adam Smith is considered the father of modern economics. The 18th-century Scottish economist, philosopher, and author is credited with giving economics a well-defined shape as a new discipline. Smith is known for arguing against mercantilism and being a major proponent of laissez-faire economic policies. He believed that the government should not interfere with the economy, and that free-market issues would fix themselves. Smith also believed that individual decisions, driven by self-interest, collectively guide the market to optimal equilibrium.

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2024-03-03

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