5
Question
Who defined economics as "a study of economic welfare which is that part of social welfare that can be brought directly or indirectly into relation with the measuring rod of money".?
Who defined economics as "a study of economic welfare which is that part of social welfare that can be brought directly or indirectly into relation with the measuring rod of money".?
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Solution
The correct option is A A C Pigou
Arthur Cecil Pigou was an English economist. He stated that economics deals with maximizing social welfare and welfare can be related to the measuring rod of money or the marginal utility of money.
Direct and indirect relation of social welfare with the marginal utility of money can be desired.
Arthur Cecil Pigou was an English economist. He stated that economics deals with maximizing social welfare and welfare can be related to the measuring rod of money or the marginal utility of money.
Direct and indirect relation of social welfare with the marginal utility of money can be desired.
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