Question 16 of 25
Q.The first person who used Mathematics in Economics is :
(a) Adam Smith
(b) Sir William Petty
(c) Irving Fisher
(d) Giovanni Ceva
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Start your 14-day free trial to unlock the full solution →Sir William Petty was the first person to use mathematics in economics.
The application of mathematical and quantitative methods to economics is traced back to Sir William Petty, whose "Political Arithmetick" used numerical measurement of economic magnitudes. He is therefore credited as the first to use mathematics in economics. This introduces the role of mathematical methods (functions and qu …
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