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Question
A combination study of economics, which dealt with wealth creation, as well as the study of man was an economics theory given by?
A combination study of economics, which dealt with wealth creation, as well as the study of man was an economics theory given by?
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Solution
The correct option is B Alfred Marshall
Alfred Marshall was a
British economist who defined economics in context to human wants and how they
fulfil these economic wants. It suggested that the theory of economics entirely
depends on the own interest of individual which also influences the
market.
He introduced the concept of consumer's and producer's equilibrium which
aims at satisfaction of wants and wealth respectively.
Alfred Marshall was a
British economist who defined economics in context to human wants and how they
fulfil these economic wants. It suggested that the theory of economics entirely
depends on the own interest of individual which also influences the
market.
He introduced the concept of consumer's and producer's equilibrium which
aims at satisfaction of wants and wealth respectively.
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