Question

4. What is the welfare definition of economics?​

Answer 1

Explanation:

The welfare definition of economics is an attempt by Alfred Marshall, a pioneer neoclassical economist, to redefine his field of study.

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Answer 2

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Economic welfare In the field of economics, it specifically refers to utility gained through the achievement of material goods and services. In other words, it refers to that part of social welfare that can be fulfilled through economic activity.

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