The Book "An Inquiry into the Nature and Causes of the Wealth of Nations" is written by
Correct answer: A. Adam Smith
- A. Adam Smith
- B. David Ricardo
- C. Malthus
- D. J. M. Keynes
Explanation
Adam Smith wrote An Inquiry into the Nature and Causes of the Wealth of Nations, published in 1776. The book is a foundational work in classical economics and is often linked to the idea of the invisible hand.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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