What Where Adam Smith,Sir Lionel Robbins And Alfred Marshal's Definition Of Economics Respectively?


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Kunal Shahani Profile
Kunal Shahani answered
Sir Lionel Robbins defines economics, in his book AN ESSAY ON THE NATURE AND SIGNIFICANCE OF ECONOMIC SCIENCES published in 1817, " A science that studies human behavior as relationship between ends(wants) and scarce means which have alternative uses."
Adam Smith has defined economics as the INQUIRY of the cause and nature nation's wealth.
Alfred Marshall according to him economics is not concerned with welfare but with human activity he has defined economics as "political economy or economics is a study of mankind in the ordinary business of life It examines that part of the individual and social action which is closely connected with the attainment and with the uses of requisites of well being". He has defined economics on the basis of economical and non economical activities

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