Economics

Adam Smith's Definition (wealth Definition)                                     ° Adam Smith   (1723 - 1790)   was Scottish philosopher . °   He defined Economic as a  " Economics is science of wealth "   in his book " An inquiry into Nature and causes of wealth of Nation "  ( 1776 )  ° He is known as father of political economy because he was the first person who put all the economic idea in the sysmatical way .  WEALTH   DEFINITION :                     ° The team   " Wealth "   has a special meaning in economics. In ordinary language wealth we means , money ,   but in economics wealth refer to   those goods which satisfy the human wants. ° we should keep in mind that " all goods are not wealth which satisfy the our wants" For example : ...