Question : The concept of "human capital" was first introduced by:
Option 1: Adam Smith
Option 2: John Maynard Keynes
Option 3: Amartya Sen
Option 4: Gary Becker
Correct Answer: Gary Becker
Solution : The correct answer is (d) Gary Becker.
Gary Becker, an American economist, is credited with pioneering the concept of human capital in the field of economics. He developed the idea in the 1960s and expanded on it in his influential book titled "Human Capital: A Theoretical and Empirical Analysis," published in 1964.
Becker's contribution to the concept of human capital has had a significant impact on the field of economics and has influenced subsequent research and policy discussions related to education, labor markets, and economic development.
Question : The concept of elasticity was first introduced by:
Option 1: Adam Smith.
Option 2: Karl Marx.
Option 3: Alfred Marshall.
Option 4: John Maynard Keynes.
Question : The concept of price elasticity of demand was introduced by:
Option 1: Alfred Marshall
Option 3: Adam Smith
Option 4: William Stanley Jevons
Question : Who gave the concept of 'money illusion' for the first time?
Option 1: Robertson
Option 2: Adam Smith
Option 3: Irving Fisher
Option 4: John Maynard Keynes
Question : The concept of "class struggle" in class-based movements is primarily associated with the ideas of:
Option 2: Karl Marx
Option 3: John Maynard Keynes
Option 4: Max Weber
Question : Who said, "Economics is the Science of Wealth"?
Option 1: Lionel Charles Robbins
Option 2: J. S. Mill
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