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SMITH, ADAM: A Scottish professor (born 1723, died 1790) who is considered the father of modern economics for his revolutionary book, entitled An Inquiry into the Nature and Causes of the Wealth of Nations published in 1776.
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ECONOMICS A social science that studies the allocation of limited resources used to produce the goods and services that satisfy unlimited consumer wants and needs. Economics is one of several social sciences (others are sociology, political science, and anthropology) which applies the scientific method to human behavior. The distinguishing feature of economics is a concern with the fundamental problem of scarcity--unlimited wants and needs and limited resources. Economics is commonly divided into two branches--macroeconomics and microeconomics.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"The ideals that have lighted my way, and time after time have given me new courage to face life cheerfully, have been kindness, beauty and truth. " -- Albert Einstein, physicist
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ANN REPT
Annual Report
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