{"id":53337,"date":"2024-04-15T23:52:31","date_gmt":"2024-04-15T23:52:31","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=53337"},"modified":"2024-04-15T23:52:31","modified_gmt":"2024-04-15T23:52:31","slug":"who-is-assumed-as-the-father-of-economics","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/who-is-assumed-as-the-father-of-economics\/","title":{"rendered":"Who is assumed as the father of economics?"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Adam Smith&#8221; option2=&#8221;Robinson&#8221; option3=&#8221;Marshall&#8221; option4=&#8221;George Bernard&#8221; correct=&#8221;option1&#8243;]<!--more--><\/p>\n<p>The correct answer is Adam Smith.<\/p>\n<p>Adam Smith was a Scottish economist and philosopher who is considered the father of modern economics. He is best known for his book The Wealth of Nations, which was published in 1776. In this book, Smith argued that the free market is the best way to organize an economy. He also developed the theory of comparative advantage, which explains why countries specialize in producing certain goods and services.<\/p>\n<p>Robinson Crusoe is a fictional character who appears in a novel by Daniel Defoe. The novel tells the story of Crusoe&#8217;s shipwreck and his subsequent adventures on a desert island.<\/p>\n<p>Alfred 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 was published in 1890. In this book, Marshall developed the theory of marginal utility, which explains how people make decisions about how to allocate their resources.<\/p>\n<p>George Bernard Shaw was an Irish playwright who won the Nobel Prize in Literature in 1925. He is best known for his plays Pygmalion and Saint Joan.<\/p>\n<p>In conclusion, Adam Smith is the father of economics. He is best known for his book The Wealth of Nations, which was published in 1776. In this book, Smith argued that the free market is the best way to organize an economy. He also developed the theory of comparative advantage, which explains why countries specialize in producing certain goods and services.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Adam Smith&#8221; option2=&#8221;Robinson&#8221; option3=&#8221;Marshall&#8221; option4=&#8221;George Bernard&#8221; correct=&#8221;option1&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-53337","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Who is assumed as the father of economics?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/who-is-assumed-as-the-father-of-economics\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Who is assumed as the father of economics?\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Adam Smith&#8221; 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