Multiple Choice Questions on Which economist gave the theory of Opportunity Cost ........ for SSC CGL Exam Preparation

Indian Economy

General Studies (CGL)

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    Which economist gave the theory of Opportunity Cost?

    This questions was previously asked in
    SSC CGL 11 June 2019 Shift-1

    Adam Smith

    Incorrect Answer

    Gottfried Haberler

    Correct Answer

    Milton Friedman

    Incorrect Answer

    John Keynes

    Incorrect Answer
    Explanation:

    Here's a quick breakdown of the options and relevant statements:

    - Option 1: Adam Smith

    - Known as the father of modern economics.

    - Famous for his work "The Wealth of Nations."

    - Did not develop the theory of opportunity cost.

    - Option 2: Gottfried Haberler

    - An Austrian economist.

    - Known for his contributions to international trade theory.

    - Provided significant insights into opportunity cost.

    - Option 3: Milton Friedman

    - An influential American economist.

    - Known for his work on monetarism.

    - Did not provide the theory of opportunity cost.

    - Option 4: John Keynes

    - Developed Keynesian economics.

    - Known for his work on employment and economic policies.

    - Did not provided the theory of opportunity cost.


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