Who founded modern economics and is considered the father of economics
a. David Ricardo
b. John Stuart Mill
c. Adam Smith
d. Karl Marx
He formulated the Principles of Political Economy and Taxation
a. John Stuart Mill
b. Adam Smith
c. David Ricardo
d. Thomas Malthus
He focused on the General Equilibrium Theory, and authored the Elements of Pure Economics (1874)
a. Alfred Marshall
b. Leon Walras
d. Adam Smith
He is the Father of Macroeconomics, and authored the “General Theory of Employment, Interest and Money (1930’s)
d. John Maynard Keynes
He introduced the word ‘entrepreneur’, and wrote the “Essay on the Nature of Commerce in General in 1734 (published 1755)
a. Ricardo Cantillon
Who popularized ‘ceteris paribus ‘, and focuses on microeconomics where supply and demand act as scissors. He even authored the “Principles of Economics" (1890)
c. Alfred Marshall
He directly connected the problem of an economic system to rapid growth of population. He also wrote, “An Essay on the Principle of Population (1798)
a. Thomas Malthus
Authored the “Das Capital" and Communist Manifesto, communism
Co-authored the communist manifesto of Karl Marx
b. Friedrich Engels
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