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About Economics Notes

Introduction:
Many attempted have been made to explain the subject matter of Economics but for our purpose we will consider some simple ones.
Adam Smith (1776). Who is known as the father of economics defined economics as “an enquiring into the Nature and causes of wealth of nations”.
In his book “the wealth of Nations”.
He was basically concerned with the broader aspect of wealth and the means by which volume of production could be increased…

Content:
1. Meaning of economics
2. Basic economic problems of the society
3. Economic system
4. Production
5. Co-operative societies
6. Limited liability companies
7. Partnership
8. Privatization and commercialization
9. Public corporations
10. Sole proprietorship

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Frequently Asked Questions(FAQ)

Who is known as the father of economics?

Adam Smith is known as the father of economics.

How did Adam Smith define economics?

Adam Smith defined economics as "an enquiring into the Nature and causes of wealth of nations".

What is the book in which Adam Smith discussed economics?

Adam Smith discussed economics in his book "The Wealth of Nations".

What is the broader aspect of wealth that Adam Smith was concerned with?

Adam Smith was concerned with the broader aspect of wealth and the means by which volume of production could be increased.

What are some of the topics covered in economics notes?

Some of the topics covered in economics notes are: meaning of economics, basic economic problems of the society, economic system, production, co-operative societies, limited liability companies, partnership, privatization and commercialization, public corporations, and sole proprietorship.