QN0.52 Marshall in his definition of economics:
A. Uses the concept of material welfare
B. Dislikes wealth
C. Accuses Adam Smith
D. Praises Robbins
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Answer:
uses the concept of material welfare .
Explanation:
British economist Alfred Marshall defined economics as the study of man in the ordinary business of life. Marshall argued that the subject was both the study of wealth and the study of mankind. He believed it was not a natural science such as physics or chemistry, but rather a social science.
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