1
Question
Welfare definition of economics were propounded by -
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Solution
The correct option is A Alfred Marshall
The welfare
definition of economics is an attempt
by Alfred Marshall, a pioneer neoclassical economist, to redefine his
field of study. ... In the words of Marshall, "man earns money to get
material welfare." This is why economists since
Marshall have described his definition as the welfare definition of economics. Therefore
we can say that adam smith gives stress on wealth concept.
The welfare definition of economics is an attempt by Alfred Marshall, a pioneer neoclassical economist, to redefine his field of study. ... In the words of Marshall, "man earns money to get material welfare." This is why economists since Marshall have described his definition as the welfare definition of economics. Therefore we can say that adam smith gives stress on wealth concept.
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