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‘Economics is the study of mankind in the ordinary business of life’ was given by :
- a)Adam Smith
- b)Lord Robbins
- c)Alfred Marshall
- d)Samuelson
Correct answer is 'C'. Can you explain this answer?
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‘Economics is the study of mankind in the ordinary business of l...
Welfare definition of Economics by Alfred Marshall (1842-1924) led the Neo-classical school. Alfred Marshall gave economics a respectable place among other social sciences. In his book “Principles of Economics" published in 1890, has defined economics in these terms, “Economics is a study of mankind in the ordinary business of life. It examines that part of individual and social action which is most closely connected with the attainment and use of material requisites of well being”. This definition of economics by Alfred Marshall neoclassical economist clearly point out that economics is on the one side a study of wealth and on the other and more important side a part of study of man.
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‘Economics is the study of mankind in the ordinary business of l...
Is me explain krne wali koun si baat ALFRED MARSHALL ka statement h ya aise bolo to ECONOMICS defination diye h wo
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‘Economics is the study of mankind in the ordinary business of l...
An altered form of this definition is economics is "a study of man's actions in the ordinary business of life".
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‘Economics is the study of mankind in the ordinary business of life’ was given by :a)Adam Smithb)Lord Robbinsc)Alfred Marshalld)SamuelsonCorrect answer is 'C'. Can you explain this answer?
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