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Which economist gave the theory of Opportunity Cost?
Adam Smith
Gottfried Haberler
Milton Friedman
John Keynes
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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