Who is called the father of Economics?
Show Hint
- Adam Smith
- Marshall
- Robbins
- Mehta
The Correct Option is A
Solution and Explanation
Step 1: Understanding the Concept:
The question asks to identify the historical figure widely recognized as the "father of Economics."
Step 2: Detailed Explanation:
Adam Smith, a Scottish economist and philosopher, is universally regarded as the father of modern economics. His monumental work, "An Inquiry into the Nature and Causes of the Wealth of Nations" (1776), laid the foundation for classical economics and established economics as a distinct academic discipline. He introduced foundational concepts like the division of labor, free markets, and the "invisible hand."
Step 3: Final Answer:
Adam Smith is called the father of Economics. Therefore, option (A) is the correct answer.
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