Adam Smith analysed the emerging market economy of eighteenth century England in which book?
- The Wealth of Nations
- The Great Transformation
- The Gift and Exchange
- The Rules of Method
Show answer and solution
Correct answer: A. The Wealth of Nations
1. Economics was then called political economy.
2. Smith wrote The Wealth of Nations.
3. He saw individual exchanges creating an ordered system.
_Source: syllabus Indian Society, Chapter 4, The Market as a Social Institution._