GENERAL KNOWLEDGE

Detailed explanation-1: -Adam Smith was a Scottish economist who published his book “An enquiry into the nature and causes of wealth of nation” in 1776 which described economics as a subject of cause and effect which aims at generation of wealth for both social as well as economic means.

Detailed explanation-2: -He’s known primarily for his groundbreaking 1776 book on economics called An Inquiry into the Nature and Causes of the Wealth of Nations. Smith introduced the concept that free trade would benefit individuals and society as a whole.

Detailed explanation-3: -The Wealth of Nations, in full An Inquiry into the Nature and Causes of the Wealth of Nations, work by the Scottish economist and philosopher Adam Smith, first published in 1776, that became a foundational study in the history of economics and the first formulation of a comprehensive system of political economy.

Detailed explanation-4: -theory of. philosopher Adam Smith published An Inquiry into the Nature and Causes of the Wealth of Nations.

Detailed explanation-5: -The Wealth of Nations is a profoundly influential work in the study of economics and examines exactly how nations become wealthy. Adam Smith advocates that by allowing individuals to freely pursue their own self-interest in a free market, without government regulation, nations will prosper.