Final answer:
Adam Smith is known as "The Father of Economics" and his book "The Wealth of Nations" laid the foundation for modern economics.
Step-by-step explanation:
Adam Smith is known as "The Father of Economics." He was a Scottish philosopher and economist who wrote the book "The Wealth of Nations." In this book, Smith laid the foundation for modern economics by discussing concepts such as division of labor, free markets, and the invisible hand. His ideas have had a significant impact on the field of economics, making him a central figure in its development.
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