All questions of Important Lists: India for Delhi Police Constable Exam

Introduction:
The Nobel Prizes were established by the will of Alfred Nobel, a Swedish inventor, engineer, and industrialist, in 1895. These prizes are awarded annually in various fields to individuals or organizations that have made significant contributions to humanity. While several fields were included in the Nobel Prize category from the beginning, one field was not initially included.

Explanation:
The Nobel Prizes were established in the fields of Physics, Chemistry, Physiology or Medicine, Literature, and Peace. However, the field of Economics was not included in the Nobel Prize category at the time the prizes were first established. The reasons behind this omission are as follows:

1. Alfred Nobel's will: In his will, Alfred Nobel did not mention Economics as one of the fields for which the prizes should be awarded. He specifically mentioned the fields of Physics, Chemistry, Physiology or Medicine, Literature, and Peace. Thus, the initial establishment of the Nobel Prizes did not include Economics.

2. Later addition: The Sveriges Riksbank (the central bank of Sweden) established the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 1968. This prize is commonly referred to as the Nobel Prize in Economics. It was not one of the original Nobel Prizes but was established later to commemorate Alfred Nobel's legacy and contribution to economics.

3. Distinctive nature of economics: Economics is a distinct field that focuses on the study of production, distribution, and consumption of goods and services. It has its own set of theories, methodologies, and contributions to society. While Alfred Nobel recognized the importance of various fields, he did not specifically include economics in his will.

4. Recognition of economic contributions: The establishment of the Nobel Prize in Economics allowed for the recognition of individuals or organizations that have made significant contributions to the field of economics. This prize has since become highly prestigious and is awarded alongside the other Nobel Prizes.

Conclusion:
In conclusion, the field of Economics was not initially included in the Nobel Prize category when the prizes were first established. It was later added with the establishment of the Nobel Prize in Economics by the Sveriges Riksbank. This addition allowed for the recognition of outstanding contributions to the field of economics, alongside the other Nobel Prizes.