Identify important economic thinkers (e

Economics science deals with how scarce resources allocated and optimally used in the economy are dynamic and change over time by their economists who have formulated theories and are still relevant to the modern economy.

Adam Smith regarded economics as the father of economics, which contributed to economics as a sparse branch of knowledge. His theory of division of labor, Absolute advantage theory, is still relevant to the modern economy.

David Ricardo shows the rent for land services determined and the benefits of international trade at comparative costs.

Karl Marks, the founder of socialism, demonstrated the defect of the capitalist system and the exploitation of labor.

JM Keynes demonstrated the failure of the free market economy and the role of the government in economic activities.

The above-mentioned contribution of the economist to the economy shows that the workings of the economy over changes, but the objectives remain the same; allocation of resources and better utilization.