Asked by
trapti mishra
on Dec 12, 2024
Verified
Modern economics as a field of study is usually thought to have begun with
A) Adam Smith and the writing of The Wealth of Nations.
B) David Ricardo and the writing of The Principles of Political Economy and Taxation.
C) Aristotle and the writing of Politics and Ethics.
D) Moses and the Ten Commandments.
Adam Smith
An 18th-century Scottish economist and philosopher known as the father of modern economics, famous for his work "The Wealth of Nations."
Modern Economics
A branch of social science that studies how individuals, businesses, and governments make choices on allocating resources to satisfy their needs and wants.
The Wealth of Nations
A seminal book by Adam Smith, which discusses economics, the importance of free markets, division of labor, and productivity.
- Comprehend the contributions of Adam Smith to the field of economics, including his opinions on self-interest and the nature of competitive markets.
Verified Answer
SA
Learning Objectives
- Comprehend the contributions of Adam Smith to the field of economics, including his opinions on self-interest and the nature of competitive markets.