Question

Arrange important books of economics as per year of publication from early to latest:
A. Theory of Employment, Interest and Money by J.M Keynes
B. Principles of Economics by Alfred Marshall
C. An Essay on the Nature and Significance of Economic Science by Lionel Robbins
D. Wealth of Nations by Adam Smith

• A. D, B, A, C
• B. A, B, D, C
• C. D, B, C, A
• D. B, A, C, D

Hint:

Adam Smith's "Wealth of Nations" (1776) is universally recognized as the starting point of modern economic literature, meaning 'D' must always be first. J.M. Keynes wrote during the Great Depression (1930s), placing 'A' last.

Answer 1

The Correct Option is C

Step 1: Understanding the Concept:
Tracing the publication dates of major economic treatises is essential for understanding the historical development of economic thought.

Step 2: Detailed Explanation:
Let us establish the publication years of these landmark books:
1. Wealth of Nations by Adam Smith (D): Published in 1776. It is the foundational text of classical economics.
2. Principles of Economics by Alfred Marshall (B): Published in 1890. It popularized marginal utility and neoclassical economics.
3. An Essay on the Nature and Significance of Economic Science by Lionel Robbins (C): Published in 1932. It defined economics as the science of scarcity and choice.
4. The General Theory of Employment, Interest and Money by J.M. Keynes (A): Published in 1936. It laid the foundation for modern macroeconomics.
Thus, the correct chronological order from earliest to latest is D (1776) $\rightarrow$ B (1890) $\rightarrow$ C (1932) $\rightarrow$ A (1936).

Step 3: Final Answer:
The chronological sequence is D, B, C, A, corresponding to Option (C).