Question

Prof. Marshall is known as the 'Father of Economics'. (State whether the statement is TRUE or FALSE)

Answer 1

FALSE ; Adam Smith  is known as the ' Father of Economics'.

Answer 2

Answer:

False

Explanation:

Prof. Marshall is known as the 'Father of Economics' - False

As the founder of microeconomics, Adam Smith is regarded as the Father of Economics. Adam Smith was inspired by the French writers that had shared his hatred for mercantilism.

Dr. Marshall, on the other side, is a neo-classical economist who has created the economic principles. For many years, his book, Principles of Economics (1890), was England's dominant financial textbook. It puts into a consistent whole the concepts of supply and demand, marginal usefulness, and manufacturing expenses.