BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Paul Samuelson
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J.M. Keynes
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Lionel Robbins
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Adam Smith
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Detailed explanation-1: -"To be a good economist, you must be a good political economist, ” Samuelson said. “It’s not enough to know the diagrams of supply and demand and the mathematics of econometric regressions.
Detailed explanation-2: -He introduced the concept of “revealed preference” in a 1938 article. His goal was to be able to tell by observing a consumer’s choices whether he or she was better off after a change in prices, and indeed, Samuelson determined the circumstances under which one could tell.
Detailed explanation-3: -John Maynard Keynes (1883–1946), one of the greatest economists of the twentieth century, pointed out that economics is not just a subject area but also a way of thinking.
Detailed explanation-4: -Economics is the study of mankind in the ordinary business of life.-Alfred Marshall.