During which years did Adam Smith live?

Study for the Texas PACT Business and Finance 776 Test. Practice with flashcards and multiple-choice questions. Boost your confidence and knowledge to excel in your exam!

Adam Smith, a key figure in the development of modern economic theory and often referred to as the father of economics, lived from 1723 to 1790. This period was significant as it encompassed the Enlightenment, a time of great intellectual and philosophical growth. His most notable work, "The Wealth of Nations," was published in 1776, laying the foundation for classical economics and introducing concepts such as the division of labor and the free market. Understanding this timeframe is crucial as it highlights the context in which Smith developed his theories, which have influenced economic thought for centuries. The other options inaccurately place him in periods before or after his actual lifespan, thus not correlating with his contributions to economics and philosophy.

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