Question

definition of economics welfare oriented definition by Marshall​

Answer 1

Answer:

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Alfred Marshall (1842-1924) wrote a book Principles of Economics in 1890.

In it, he defined economics as 'a study of mankind in the ordinary business of life'. An altered form of this definition is : 'Economics is a study of man's actions in the ordinary business of life'.

Answer 2

Answer:

The welfare definition of economics is an attempt by Alfred Marshall, a pioneer of neoclassical economics, to redefine his field of study. This definition expands the field of economic science to a larger study of humanity.

Explanation: