Difference between adam smith and alfred marshall definition of economics
Asked by admin @ in Economy viewed by 365 People
Difference between adam and marshall definition of economics
Asked by admin @ in Economy viewed by 365 People
Difference between adam and marshall definition of economics
Answered by admin @
Explanation:
He belongs to the group of neo-classical economists. He challenged Adam Smith's definition of economics and denied the wealth related definitions of Adam Smith.
Thus according to According to Alfred Marshall “Economics is the study of people in the ordinary business of life”. Basically economics includes the study of labor, land and capital, income and production and taxes and government expenditures. Economist seek to evaluate the well being of rich and poor through learning to measure how well-being may increase overtime.
Adam Smith:
Adam Smith was the founder of classical economics and is also known as the father of economics as he was the first to recognize economics as a subject. “Economics is concerned with, An inquiry into the Nature and Causes of Wealth of Nations.” Thus he gave a high level of importance to wealth in the study of Economics. In his book “wealth of nation” he considered economics to be the study of production of wealth, distribution of wealth, consumption of wealth and exchange of wealth.
Read more on Brainly.in - brainly.in/question/4868877#readmore
Asked by admin @ in Mathematics viewed by 283 persons
Asked by admin @ in Business viewed by 294 persons
Asked by admin @ in History viewed by 330 persons
Asked by admin @ in Economy viewed by 324 persons
Asked by admin @ in Physics viewed by 348 persons
Asked by admin @ in Economy viewed by 331 persons
Asked by admin @ in Economy viewed by 373 persons
Asked by admin @ in Economy viewed by 405 persons
Asked by admin @ in Economy viewed by 437 persons
Asked by admin @ in Social Sciences viewed by 354 persons
Asked by admin @ in Physics viewed by 397 persons
Asked by admin @ in Economy viewed by 363 persons
Asked by admin @ in Science viewed by 381 persons
Asked by admin @ in Social Sciences viewed by 285 persons
Asked by admin @ in Economy viewed by 310 persons
Asked by admin @ in Economy viewed by 1936 persons
Asked by admin @ in Economy viewed by 1372 persons
Asked by admin @ in Economy viewed by 1060 persons
Asked by admin @ in Economy viewed by 1031 persons
Asked by admin @ in Economy viewed by 974 persons
Asked by admin @ in Economy viewed by 967 persons
Asked by admin @ in Economy viewed by 911 persons
Asked by admin @ in Economy viewed by 904 persons
Asked by admin @ in Economy viewed by 890 persons
Asked by admin @ in Economy viewed by 838 persons
Asked by admin @ in Economy viewed by 811 persons
Asked by admin @ in Economy viewed by 806 persons
Asked by admin @ in Economy viewed by 766 persons