Economy, asked by TANVEERJAMAN, 5 hours ago

Mention any wealth centred definition of economics​

Answers

Answered by aditya200754
2

Answer:

It means economic deals with production, distribution, exchange and consumption of wealth. 2. Secondary Place to Mankind. The wealth centered definition of economic has given first priority to wealth and secondary priority to mankind. Adam Smith assumed that mankind is for wealth but wealth cannot be for mankind.

Answered by anitakarmakar60
0

Answer:

Classical economists such as Adam Smith, Ricardo and JB Say defined economics as a science of wealth. Adam Smith who is generally regarded as the father of economics, defined economics as a science which enquires into the nature and cause of wealth.

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