adam smith definition merits and demerits
Father of Economics is Adam Smith
ADAM SMITH is generally regarded as the father of economics.
John Maynard Keynes
Economics is a science of wealth.
economics is the study of wealth
Merits: Adam Smith's "The Wealth of Nations" laid the foundation for modern economics by introducing concepts such as the invisible hand, division of labor, and free markets. It emphasized the importance of self-interest in driving economic growth and productivity. Demerits: Critics argue that Smith's focus on self-interest and free markets can lead to income inequality, exploitation of workers, and environmental degradation. Additionally, some suggest that his ideas may not be applicable to all economic systems or societies.
merits of defination of economic given by adam smith
Father of Economics is Adam Smith
ADAM SMITH is generally regarded as the father of economics.
John Maynard Keynes
He was interested in economics.
Adam Smith
Economics is a science of wealth.
because his the father of economics
economics is the study of wealth
Adam Smith is known as 'the father of Economics'.
Adam Smith is known as 'the father of Economics'.