Question : Who is called the "Father of Economics"?
Option 1: Max Muller
Option 2: Karl Marx
Option 3: Adam Smith
Option 4: Alfred Marshall
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Correct Answer: Adam Smith
Solution : The correct answer is Adam Smith .
The "Father of Economics" is Adam Smith. He was a Scottish economist. Smith's most famous work, The Wealth of Nations, was published in 1776. Smith argued in his book that the free market is a substantial way to organise economic activity. He felt that people are inherently selfish and that selfishness leads to economic progress and wealth. Smith's theories had a significant impact on economic thought and policy. His views are still strongly disputed today but are believed to be the basis of contemporary economics.
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