GENERAL KNOWLEDGE

Detailed explanation-1: -Adam Smith was an 18th-century Scottish philosopher. He is considered the father of modern economics. Smith is most famous for his 1776 book, “The Wealth of Nations.” Smith’s writings were studied by 20th-century philosophers, writers, and economists.

Detailed explanation-2: -Adam Smith is considered to be the Father of Economics because of his book “Theory of Moral Sentiments” and “An Inquiry into the Nature and Causes of the Wealth of Nations". He became the father of modern economics. The academic field of economics as we know it now had its roots in Adam Smith’s The Wealth of Nations.

Detailed explanation-3: -Father of Indian Economic Planning is Sir M. Vishweshwaraiah. Sir M Visvesvaraya, popularly known as Sir MV, was an engineer, statesman, and a scholar.

Detailed explanation-4: -Adam Smith’s Definition of Economics Smith defined economics as “an inquiry into the nature and causes of the wealth of nations.”