explain the definitions of economics by Adam Smith and Marshall...?
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was published in 1776. In the book Adam Smith defined economics as a Science of Wealth. ... According to J.B Say Economics is the science which treats wealth. F.A Walker made it clear that economics is that body of knowledge which relates to wealth.
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Economics is a social science concerned with the production, distribution, and consumption of goods and services. ... Economics can generally be broken down into macroeconomics, which concentrates on the behavior of the economy as a whole, and microeconomics, which focuses on individual people and businesses
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