Question

Alfred Marshall considered economics as the _____________.

• A. science of wealth
• B. science of material well-being
• C. science of choice-making
• D. science of growth and development

Answer 1

Answer: (B)

science of material well-being

Alfred Marshall was a British economist who proposed the definition of welfare according to which economics should be a science of creation of welfare for both human as well as society believed that the subject studies the creation of materialistic things in the economy for personal gains which is not good for the welfare of the society. Therefore, he proposed a positive definition on economics.