Question : Who said, "Economics is the Science of Wealth"?
Option 1: Lionel Charles Robbins
Option 2: J. S. Mill
Option 3: Adam Smith
Option 4: John Maynard Keynes
Correct Answer: Adam Smith
Solution : The correct answer is Adam Smith .
Smith is often regarded as the founder of modern economics and his book An Inquiry into the Nature and Causes of the Wealth of Nations (1776) is widely regarded as one of the most significant works in the discipline. Smith defined economics in the book as the study of how products and services are generated, dispersed and consumed. He contends that the free market is the most efficient technique for allocating resources and creating prosperity.
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