Description : Who is called the 'Father of Economics'? (1) Max Muller (2) Karl Marx (3) Adam Smith (4) Alfred Marshall
Last Answer : (3) Adam Smith Explanation: Adam Smith who laid the foundations of classical free market economic theory is known as the Father of Modern Economics. His magnum opus, An Inquiry into the Nature and Causes of the Wealth of Nations (1776),' is considered the first modern work of economics.
Description : Who is called the Father of Economics? (1) J.M. Keynes (2) Malthus (3) Ricardo (4) Adam Smith
Last Answer : (4) Adam Smith Explanation: Adam Smith is best known for two classic works: The Theory of Moral Sentiments (1759), and An Ingully into the Nature and Causes of the Wealth of Nations (1776 ... father of modern economics and is still among the most influential thinkers in the field of economics today.
Last Answer : Adam Smith
Description : The Liquidity Preference Theory of Interest was propounded by : (1) J.M. Keynes (2) David Ricardo (3) Alfred Marshall (4) Adam Smith
Last Answer : (1) J.M. Keynes Explanation: In macroeconomic theory, liquidity preference refers to the demand for money, considered as liquidity. The concept was first developed by John May-nard Keynes in his book ... Money (1936) to explain determination of the interest rate by the supply and demand for money.
Last Answer : J.M. Keynes
Description : Who said, "Economics is the Science of Wealth"? (1) Robbins (2) J.S. Mill (3) Adam Smith (4) Keynes
Last Answer : (3) Adam Smith Explanation: It was Adam Smith who conceptualized Economics as a science of wealth. Elaborating upon the scope and fundamental conceptualizations of the new science, he then called political economy as "an inquiry into the nature and causes of the wealth of nations."
Description : Who said, “Economics is the Science of Wealth” ? (1) Robbins (2) J.S. Mill (3) Adam Smith(4) Keynes
Last Answer : Keynes
Description : ----------is known as father of economics (a) Adam Smith ; (b) Professor A Samulson ; (c) Alfred Marshall ; (d) J R Hicks
Last Answer : (a) Adam Smith ;
Description : Who is called as the 'founding father of modern economics'? a) Adam Smith b) John Maynard Keynes c) F. Hayek d) Samuelson
Last Answer : a) Adam Smith Adam Smith's “1776 book "An Inquiry into the Nature and Causes of the Wealth of Nations"― many of the major ideas that we use in economics today
Description : The terms "Micro Economics" and "Macro Economics" were coined by - (1) Alfred Marshall (2) Ragner Nurkse (3) Ragner Frisch (4) J.M. Keynes
Last Answer : (3) Ragner Frisch Explanation: The terms microeconomics and macroeconomics were coined by Professor Ragnar Frisch of Oslo University for the first time in 1933 and since then they gained popularity and ... number of significant advances in the field of economics and coined a number of new words.
Description : The terms “Micro Economics” and “Macro Economics” were coined by (1) Alfred Marshall (2) Ragner Nurkse (3) Ragner Frisch (4) J.M. Keynes
Last Answer : Ragner Frisch
Description : The 'Canons of Taxation' were propounded by - (1) Edwin Canon (2) Adam Smith (3) J.M. Keynes (4) Dalton
Last Answer : (2) Adam Smith Explanation: Canons of Taxation were first originally laid down by economist Adam Smith in his famous book 'The Wealth of Nations". In this book, Adam smith only gave four canons of taxation: ... equity: (ii) canon of certainty: (iii) canon of convenience; and (iv) canon of economy.
Description : The ‘Canons of Taxation’ were propounded by (1) Edwin Canon (2) Adam Smith (3) J.M. Keynes (4) Dalton
Description : Who is credited with brining the term "the invisible hand"• in economics? a) Adam Smith b) John Maynard Keynes c) F. Hayek d) Samuelson
Last Answer : a) Adam Smith
Description : J. B. Say's Law of Market was not accepted by - (1) Adam Smith (2) Marshall (3) Malthus (4) David Ricardo
Last Answer : (2) Marshall Explanation: Malthus opposed what has come to be described as Say's Law: that supply creates its own demand. He rejected the proposition that the demand for ... productivity increased significantly, demand would not necessarily match supply and gluts of commodities might result.
Description : Who said 'Supply creates its own demand'? (1) Adam Smith (2) J.B.Saw (3) Marshall (4) Ricardo
Last Answer : (2) J.B.Saw Explanation: "Supply creates its own demand" is the formulation of Say's law by John Maynard Keynes. The rejection of this doctrine is a central component of The General Theory of ... when there are too many means of production applied to one kind of product and not enough to another
Description : J. B. Say’s Law of Market was not accepted by : (1) Adam Smith (2)Marshall (3) Malthus (4) David Ricardo
Last Answer : Marshall
Description : Who said ‘Supply creates its own demand’? (1) Adam Smith (2) J.B.Saw (3) Marshall (4) Ricardo
Last Answer : J.B.Saw
Description : Which economist is famous for his theory of comparative advantage? a) Karl Marx b) John Maynard Keynes c) F. Hayek d) David Ricardo
Last Answer : d) David Ricardo David Ricardo was a British political economist and his most famous theory was that of comparative advantage. Comparative advantage refers to the doctrine that anynation should use its resources solely in industries where it has the most international competitiveness
Description : Das Kapital, published in German in 1867, was authored by: a) Karl Marx b) John Maynard Keynes c) F. Hayek d) Samuelson
Last Answer : a) Karl Marx b) John Maynard Keynes c) F. Hayek d) Samuelson
Description : The time element in price analysis was introduced by : (1) J.M. Keynes (2) Alfred Marshall (3) J.S. Mill (4) J.R. Hicks
Last Answer : (2) Alfred Marshall Explanation: Marshall, who propounded the theory that price is determined by both demand and supply, also gave a great importance to the time element in the determination of price. ... and the longer the period more important will be the influence of cost of production on value."
Last Answer : Alfred Marshall
Description : “Communist Manifesto” was written by ………. (a) Marx and Engels (b) Adam Smith (c) Fanon (d) J.S. Mill
Last Answer : (a) Marx and Engels
Description : Which of the following economists is called the Father of Economics? (1) Malthus (2) Robinson (3) Ricardo (4) Adam Smith
Last Answer : (4) Adam Smith Explanation: Adam Smith, a Scottish moral philosopher and a pioneer of political economy, is cited as the "father of modern economics." He is best known for two classic works: The ... Wealth of Nations (1776). The Wealth of Nations is considered as the first modern work of economics.
Description : The concept of HDI was popularized by a. Morris D Morris b. Adam Smith c. Keynes d. Mahbub Ul Haq
Last Answer : d. Mahbub Ul Haq The concept developed in the 1990s. It has 3 important parameters- life expectancy, education achievement index and standard of living index.
Description : The General Equilibrium Analysis" was developed by - (1) Marshall (2) Ricardo (3) Walras (4) Adam Smith
Last Answer : (3) Walras Explanation: French economist Leon Walras put forward the General Equilibrium Theory in his pioneering 1874 work 'Elements of Pure Economics'. The theory attempts to explain the functioning of ... tried to show how and why all free markets tended toward equilibrium in the long run.
Description : Which economist stated the positive impact of monopoly? A.Marshall B.Adam Smith C.Joseph Schumpeter D.Pigou
Last Answer : C.Joseph Schumpeter
Description : ”The General Equilibrium Analysis” was developed by (1) Marshall (2) Ricardo (3) Walras (4) Adam Smith
Last Answer : Walras
Description : The book which is at the centrepiece of the study of Macro - Economics was written by - (1) Prof. Samuelson (2) Prof. J.M. Keynes (3) Prof. Benham (4) Prof. Baumol
Last Answer : (2) Prof. J.M. Keynes Explanation: J.M. Keynes's magnum opus, The General Theory of Employment, Interest and Money' is often viewed as the foundation of modern macroeconomics. Macroeconomics ... , structure, behavior, and decision-making of an economy as a whole, rather than individual markets.
Description : The term 'Macro Economics' was used by _______. (1) J.M. Keynes (2) Ragner Frisch (3) Ragner Nurkse (4) Prof. Knight
Last Answer : (2) Ragner Frisch Explanation: Ragnar Frisch coined the widelyused term pair macroeconomics/ microeconomics in 1933. He was a Norwegian economist and the co-recipient of the first Nobel Memorial Prize in Economic Sciences in 1969. Fie is known for having founded the discipline of econometrics.
Description : The term ‘Macro Economics’ was used by __________ . (1) J.M. Keynes (2) Ragner Frisch (3) Ragner Nurkse (4) Prof. Knight
Description : The book which is at the centrepiece of the study of Macro - Economics was written by (1) Prof. Samuelson (2) Prof. J.M. Keynes (3) Prof. Benham (4) Prof. Baumol
Last Answer : Prof. J.M. Keynes
Description : Who is known as the "Father of Economics" ? 1. Adam Smith 2. Chanakya 3. Machiavelli 4. Jhonson 5. None of these
Description : Who is known as father of economics? A. Adam Smith B. Max Muller C. Joy Chaterjee D. Amritya Sen
Last Answer : A. Adam Smith
Description : 'Supply creates its own demand'. This statement is related to - (1) Prof. J.B. Say (2) John Robinson (3) Adam Smith (4) J.S. Mill
Last Answer : (1) Prof. J.B. Say Explanation: Jean Baptiste Say was a French economist. I le is well known for Say's Law (or Say's Law of Markets), often summarized as: "Aggregate supply creates ... create enough demand to buy the goods. Thus production is determined by the supply of goods rather than demand.
Description : The Ability Principle of Taxation is given by - (1) Adam Smith (2) Edgeworth (3) Joan Robinson (4) J.S.Mill
Last Answer : (1) Adam Smith Explanation: The 'Ability-to-Pay' principle of Taxation is one of the canons of taxation proposed by Adam Smith in his 'Wealth of Nations.' It is a progressive taxation principle ... to pay of an individual or group. The emphasis in this approach is put on redistribution of income.
Description : Who propounded the 'market law? (1) Adam Smith (2) J.B. Say (3) T.R. Malthus (4) David Recardo
Last Answer : (2) J.B. Say Explanation: Say's law, or the law of market, is an economic principle of classical economics named after the French businessman and economist Jean-Baptiste Say (1767-1832), who ... when there are too many means of production applied to one kind of product and not enough to another.
Description : ‘Wage Fund Theory’ has been given by (a) Adam Smith (b) Malthus (c) David Ricardo (d) J.S. Mill
Last Answer : (c) David Ricardo
Description : ” If a country enjoys an absolute advantage in the production of all commodities then also trade is possible”. Who said this? (a) Adam Smith (b) David Ricardo © J.S Mill (d) None of them.
Last Answer : (b) David Ricardo
Description : The theory of Comparative Advantage was propounded by (a) Adam Smith (b) David Ricardo © J.S. Mill (d) None of them.
Description : The theory of Absolute Advantage was propounded by (a) Adam Smith (b) David Ricardo © J. S Mill (d) None of them.
Last Answer : (a) Adam Smith
Description : The Ability Principle of Taxation is given by (1) Adam Smith (2) Edgeworth (3) Joan Robinson (4) J.S.Mill
Description : Who propounded the ‘market law ? (1) Adam Smith (2) J.B. Say (3) T.R. Malthus (4) David Recardo
Last Answer : J.B. Say
Description : ho defined 'Rent' as that portion or produce of the earth which is paid to the landlord for the use of original and indestructible power of the soil? (1) Ricardo (2) Marshall (3) Keynes (4) Plgou
Last Answer : (1) Ricardo Explanation: In his The Principles of Political Economy and Taxation (1821), David Ricardo stated: "Rent is that portion of the produce of the earth, which is paid to the landlord for ... in popular language, the term is applied to whatever is annually paid by a farmer to his landlord.
Description : "Interest is a reward for parting with liquidity" is according to - (1) Keynes (2) Marshall (3) Haberler (4) Ohlin
Last Answer : (1) Keynes Explanation: In macroeconomic theory, liquidity preference refers to the demand for money, considered as liquidity. The concept was first developed by John Maynard Keynes in his book The ... a reward for saving, interest in the Keynesian analysis is a reward for parting with liquidity.
Description : Imperfect competition was introduced by A.Marshall B.Chamberlin C.Keynes D.None
Last Answer : B.Chamberlin
Description : Who defined ‘Rent’ as that portion or produce of the earth which is paid to the landlord for the use of original and indestructible power of the soil ? (1) Ricardo (2) Marshall (3) Keynes (4) Pigou
Last Answer : Ricardo
Description : Who has written the book “Second Treaties of Government”? (a) J.S. Mill (b) Karl Marx (c) Jeremy Bentham (d) John Locke
Last Answer : (d) John Locke
Description : What in the world was Karl Marx talking about?
Last Answer : answer:No it sounds like you're pretty right on. When no one owns anything, it doesn't create economic divisions in society. As for the other part of your question, the wiki says it better then ... bourgeois rights of Man proclaimed in the 1789 Declaration of the Rights of Man and of the Citizen).