Adam Smith is:
A) responsible for a branch of economics bearing his name.
B) the author of this text.
C) responsible for refining the model of supply and demand.
D) considered the founder of economics.

Question

Quizplus · Accepted Answer

Adam Smith is considered the founder of economics due to his influential book "The Wealth of Nations" which outlined many principles of free market capitalism and individual self-interest. While he did contribute to the understanding of supply and demand, he is not solely responsible for this concept. Additionally, while there is a branch of economics called "Smithian economics," it is not as widely recognized as his role as the founder of economics.

Adam Smith Is