who has given the welfare-based definition of economics
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Alfred Marshall.........
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Here is the definition which was given by Alfred Marshall
Broadly, economic welfare is the level of prosperity and standard of living of either an individual or a group of persons. In the field of economics, it specifically refers to utility gained through the achievement of material goods and services.
Broadly, economic welfare is the level of prosperity and standard of living of either an individual or a group of persons. In the field of economics, it specifically refers to utility gained through the achievement of material goods and services.
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