Question

Explain welfare definition of Economics given by Prof. Marshall.
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Answer 1

Answer:

The welfare definition of economics is an attempt by Alfred Marshall, a pioneer neoclassical economist, to redefine his field of study. Specifically, Marshall's view is that economics studies all the actions that people take in order to achieve economic welfare.

Explanation:

Answer 2

Answer:

The welfare definition of economics is an attempt by Alfred Marshall, a pioneer neoclassical economist, to redefine his field of study. ... Specifically, Marshall's view is that economics studies all the actions that people take in order to achieve economic welfare.