Question

discuss briefly the definition of economics As given by Adam Smith​

Answer 1

Adam Smith was a Scottish philosopher and a pioneer of Political Economy as the discipline of economics was known then . He is often considered as the father of mordern economy . He defined economics as a science which enquires into the nature and causes of wealth . Classical economists emphasised on production, growth and distribution of wealth as a subject matter of economics . His classic works are An Enquiry into the Nature And Causes Of Wealth Of Nations , is considered as the first mordern work of economies . Wealth of Nations remains the most important book on the subject of economics till today .

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