Science, asked by chinthakuntlalokeshw, 5 months ago

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1.1
Definitions of Economics
Welfare Definition of Economics

Answers

Answered by Laiba12210

Answer:

Explanation:

Broadly, economic welfare is the level of prosperity and standard of living of either an individual or a group of persons. In the field of economics, it specifically refers to utility gained through the achievement of material goods and services.

Answered by ItzCuteAngell

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:

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