Identify the correct assertions regarding the contributions of Western economic thinkers.
- Adam Smith, often called the 'father of Economics,' advocated for minimal government intervention in economic activities, a principle known as 'Laissez Faire'.
- Karl Marx, in his work 'Das Capital,' argued that laborers receive the full value of their contribution, with profits going entirely to them.
- Alfred Marshall emphasized that economic activities should be oriented towards promoting the welfare of society.
- Lionel Robbins suggested that unlimited wants should be prioritized to ensure economic growth.