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According to whom, Economics is a science of human welfare ?
A Marshall
Paul Samuelson
J. S. Mill
Adam Smith
The welfare definition of economics is an attempt by Alfred Marshall, a pioneer of neoclassical economics, to redefine his field of study. This definition expands the field of economic science to a larger study of humanity. Specifically, Marshall's view is that economics studies all the actions that people take in order to achieve economic welfare. In the words of Marshall, "man earns money to get material welfare."
By: Barka Mirza ProfileResourcesReport error
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