WBCS.LIVE practice question

Who is widely regarded as the 'Father of Economics'?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. John Maynard Keynes
  2. Adam Smith
  3. Karl Marx
  4. Alfred Marshall

Correct answer and explanation

Correct answer: Adam Smith

Explanation: āœ… Correct Answer: B) Adam Smith šŸ“š Explanation: Adam Smith, a Scottish philosopher and economist, is known as the Father of Economics primarily due to his seminal work, 'The Wealth of Nations' (1776). He introduced the concept of the 'invisible hand' and advocated for free-market policies and the division of labor. His theories laid the foundation for classical economic thought.