Economy, asked by skstech8217, 1 month ago

Critically explain Smith's definition

Answers

Answered by kushmanchanda555

0

Answer:

Adam Smith was a Scottish philosopher, widely considered as the first modern economist

Explanation:

Adam Smith (1723 -90) defined economics as follows : 'Economics is the science of wealth'. He is the author of the famous book 'Wealth of Nations' (1776). He is known as the Father of Political Economy because he was the first person who put all the economic ideas in a systematic way. It is only after Adam Smith, we study economics as a systematic science.

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