Question

Q11) Through various schemes and policies , the government takes initiatives to

generate employment directly and indirectly . Explain.

class 12 (3 marks)
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Answer 1

Adam Smith (1723–1790) was an early economic theorist.[36] Smith was harshly critical of the mercantilists but described the physiocratic system "with all its imperfections" as "perhaps the purest approximation to the truth that has yet been published" on the subject.