Practicing Success

Target Exam

CUET

Subject

Sociology

Chapter

Indian Society: Market as a social Institution

Question:
The author of the book The Wealth of Nations is _______
Options:
Paul Smith
Max Weber
Karl Marx
Adam Smith
Correct Answer:
Adam Smith
Explanation:
The most famous of the early political economists was Adam Smith, who in his book, The Wealth of Nations, attempted to understand the market economy that was just emerging at that time. Smith argued that the market economy is made up of a series of individual exchanges or transactions, which automatically create a functioning and ordered system.