Question:
What is the name of famous book written by 'Father of Economics', Adam Smith ?
What is the name of famous book written by 'Father of Economics', Adam Smith ?
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Adam Smith defined economics as the "Science of Wealth." His book "Wealth of Nations" is the bedrock of modern capitalist economic theory.
Updated On: May 21, 2026
- "Oikondmicas"
- "Dynamic Theory of Profit"
- "Economics as Science"
- "Wealth of Nation"
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The Correct Option is D
Solution and Explanation
Concept:
Classical economics was founded on the principles laid down in the 18th century regarding production, trade, and national wealth.
Step 1: Identify the Author.
Adam Smith (1723–1790) is universally recognized as the 'Father of Economics'.
Step 2: Identify the Work.
His most influential work was published in 1776, titled "An Inquiry into the Nature and Causes of the Wealth of Nations", commonly shortened to "Wealth of Nations". This book introduced concepts like the "invisible hand" and the division of labor.
Step 3: Evaluate other options.
* Oikondmicas: Refers to the Greek roots of the word "Economics" (household management). * Dynamic Theory of Profit: Associated with J.B. Clark.
Step 1: Identify the Author.
Adam Smith (1723–1790) is universally recognized as the 'Father of Economics'.
Step 2: Identify the Work.
His most influential work was published in 1776, titled "An Inquiry into the Nature and Causes of the Wealth of Nations", commonly shortened to "Wealth of Nations". This book introduced concepts like the "invisible hand" and the division of labor.
Step 3: Evaluate other options.
* Oikondmicas: Refers to the Greek roots of the word "Economics" (household management). * Dynamic Theory of Profit: Associated with J.B. Clark.
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