Multiple Choice Questions on Which classical economist popularised the following phrase quot From each according to his ability t........... for SSC (MTS) Preparation

Books & Authors

Current GK (MTS)

Title

45:30

Video Progress

8 of 24 completed

Notes Progress

5 of 15 completed

MCQs Progress

38 of 100 completed

Subjective Progress

8 of 20 completed

Continue to Next Topic

Indian Economy - Understanding the basics of Indian economic system

Next Topic

    Which classical economist popularised the following phrase: "From each according to

    his ability, to each according to his needs”?

    This questions was previously asked in
    SSC MTS 20th October 2021 Shift-2

    David Ricardo

    Incorrect Answer

    John Stuart Mill

    Incorrect Answer

    Adam Smith

    Incorrect Answer

    Karl Marx

    Correct Answer
    Explanation:

    - The phrase "From each according to his ability, to each according to his needs" is most often associated with Karl Marx. It epitomizes the Marxist principle that people should contribute to society based on their abilities and receive based on their needs.

    - David Ricardo was a classical economist known for his theories on rent, wages, and profits, and the concept of comparative advantage in trade.

    - John Stuart Mill was a philosopher and economist known for his work on utilitarianism and liberty, advocating for individual rights and economic freedom.

    - Adam Smith is often called the father of economics, known for "The Wealth of Nations" and his advocacy of free-market policies.


    ProfileResources

    Download Abhipedia Android App

    Access to prime resources

    Downlod from playstore
    download android app download android app for free