Question

why is Samuelson's definition of economics regarded as most accepted definition?give two reasons. ​

Answer 1

Samuelson's definition tells us that economics is a social science and it is mainly concerned with the way how society employs its limited resources for alternative uses. ... An interesting point that Samuelson tells is that the society may or may not make use of money

Answer 2

According to Samuelson, 'Economics is a social science concerned chiefly with the way society chooses to employ its resources, which have alternative uses, to produce goods and services for present and future consumption'.