Question

critically discuss wealth definition of economic as given by Adam smith​

Answer 1

Answer:

Adam Smith stated, “Economics is concerned with an enquiry into the nature and causes of wealth of nations, and it is related to the laws of production, exchange, distribution and consumption of wealth.” The central point of his definition is 'wealth'.

Answer 2

Answer:

It has ignored the higher values of life.

It has reduced human beings to a secondary place.