The first clear and satisfactory explanation of rent was given by

Adam Smith
Marshall
Ricardo
J. H. Mill

The correct answer is: C. Ricardo

David Ricardo was an English economist who is considered one of the most important figures in the history of economic thought. He is best known for his theory of comparative advantage, which explains why countries trade with each other. Ricardo also developed the theory of rent, which explains why landlords are able to charge rent for the use of land.

Ricardo’s theory of rent is based on the idea that land is a scarce resource. The amount of land available is fixed, and it cannot be increased or decreased. This means that the demand for land is always greater than the supply. As a result, landlords are able to charge rent for the use of land.

Ricardo’s theory of rent has been influential in economic thought. It has been used to explain why landlords are able to charge rent, and it has also been used to argue for land reform.

The other options are incorrect because they are not the economists who developed the theory of rent. Adam Smith was a Scottish economist who is considered the father of modern economics. He is best known for his book The Wealth of Nations, which is considered one of the most important works of economic literature. Marshall was an English economist who is considered one of the founders of neoclassical economics. He is best known for his book Principles of Economics, which is considered one of the most important works of economic literature. Mill was an English philosopher, economist, and politician. He is best known for his book On Liberty, which is considered one of the most important works of liberal philosophy.

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