Question

The wealth definition to economics is given by whom?

Answer 1

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Answer 2

At first, the statement about wealth in the field of economics is first proposed by Adam Smith, a neoclassical economist, in 1776. He clearly describes that the wealth statement of economics is the study of the affairs of the people in the production of assets. This was acknowledged by scholars like J. B. Say, F. A Walker etc. Later, Alfred Marshall redefines it by emphasizing the study of wealth and humanity together instead of wealth alone.