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प्रश्न
What are the main features of Marshall’s definition of economics?
दीर्घउत्तर
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उत्तर
- Study of Mankind: It focuses on human beings and their economic activities, emphasizing man rather than wealth.
- Study of Ordinary Business of Life: Economics studies how individuals conduct their daily economic activities, such as earning and spending income.
- Emphasis on Material Welfare: Economics is concerned with material welfare, considering wealth only as a means to achieve human well-being.
- Use of Money: Material welfare is measured in money terms, making money a central tool in the study of economics.
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