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Question
Which of the following best explains why Adam Smith is considered the father of modern economics?(1 point)
Responses
Adam Smith discussed laissez-faire economics and division of labor in his book The Wealth of Nations.
Adam Smith discussed laissez-faire economics and division of labor in his book The Wealth of Nations .
Adam Smith discussed economic ideas in his book Philosophical Dictionary.
Adam Smith discussed economic ideas in his book Philosophical Dictionary .
Adam Smith discussed how government should only control economic activity in spirit in his book The Spirit of the Laws.
Adam Smith discussed how government should only control economic activity in spirit in his book The Spirit of the Laws .
Adam Smith discussed political authority and economics in his book Two Treatises of Government.
1 answer
The correct response is:
Adam Smith discussed laissez-faire economics and division of labor in his book The Wealth of Nations.
This is the primary reason he is considered the father of modern economics, as his ideas laid the foundation for classical economics and free market principles.
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