Question

Explain marshall's defination of economics and give its criticism

Answer 1

Answer:

Concentrates on the ordinary business of life: It shows that Economics deals with the study of man in the normal business of life. Thus, Economics explores how an individual gets his income and how he uses it. Emphasis on the role of man: This definition emphasizes the role of man in the creation of wealth or income.

Explanation:

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Answer 2

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Concentrates on the ordinary business of life: It shows that Economics deals with the study of man in the normal business of life. Thus, Economics explores how an individual gets his income and how he uses it. Emphasis on the role of man: This definition emphasizes the role of man in the creation of wealth or income.

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