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5262735
Economics
Description
Mind Map on Economics , created by Abhyudaya Bagari on 27/04/2016.
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adam smith
Mind Map by
Abhyudaya Bagari
, updated more than 1 year ago
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Created by
Abhyudaya Bagari
over 8 years ago
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Resource summary
Economics
Adam Smith
Father of Economics
Born with Adam Smith's publication "an inquiry into the nature and causes of wealth of nations"
In 1776
At its birth it was known as "political economy"
The word has been derived from Oikos(house) and nemein(manage)
Scarce resources
Human wants
Produce exchange and consume goods and services
Annotations:
These are the basic economic activities
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