write the definition of economic in the words of Adam Smith
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"ADAM SMITH DEFINTION OF ECONOMICS "
HERE WHAT HE THINKS ABOUT THE ECONOMICS AND WHAT IDEAS HE HAS FOR IT IS THAT Economics is the science of wealth'. In the ordinary language, by 'wealth', we mean money, but in economics, wealth refers to those goods which satisfy human wants. But we should remember all goods which satisfy human wants are not wealth.
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