Economy, asked by khusi3387, 7 days ago

Meaning of Economics?

Answers

Answered by Anonymous

16

Answer:

However there is no harmony on its definition.

Different economist have defined it in different ways which has led to a lot of disputes and misconceptions.

Various definitions of Economics developed during the course of history have been broadly divided into four parts:

Wealth definition by Adam Smith.
Welfare definition by Alfred Marshall.
Scarcity definition by Lionel Robbins.
Growth oriented definition by samuelson.

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