Definition of economics by different authors?


1 Answers

Shane Richardson Profile
Many authors, maths and business experts have defined what economics means to them. A selection of their definitions are as follows:

•    "Economics is a science which studies human behavior as a relationship between ends and scarce means which have alternative uses." (Lionel Robbins 1935)

•    "The mechanics of utility and self interest." (W. Stanley Jevons - Late 19th Century)

•    "A study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisites of well-being. Thus it is on one side a study of wealth; and on the other, and more important side, a part of the study of man."  (Alfred Marshall - 'Principles of Economics')

•    "Dismal science." (Thomas Carlye 19th Century)

•    "The study of how a person or society meets its unlimited needs and wants through the effective allocation of resources." (Paul Samuelson  1970)

There will be other quotes available if you head to and type in 'definition of economics'.

This sounds very much like a homework question, therefore you should really think if it is a good idea to get someone else to do your work. You may think this is quicker and easier to do, however it is hindering your progress and you will not learn this way. When it comes to examinations, you will not have anyone to ask and may struggle to remember work that was copied; rather than extensively researched by yourself.

The point of homework is to hone research skills and to gain more knowledge on the subject. Simply asking someone else to complete it for you will not help you develop or progress.

Answer Question