Question

Definition of economics according to alfred marshal​

Answer 1

Answer:

Emphasis on human welfare is evident in Marshall's own words: “Political Economy or Economics is a study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisites of well-being.”

Answer 2

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Marshall defines economics as “a study of men as they live and move and think in the ordinary business of life.”