Economics · Introduction to Economics
According to Alfred Marshall, how is economics defined?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Economics is the study of how society manages its total political resources.
- 2Economics is purely the science of wealth accumulation and money.
- 3Economics is a study of mankind in the ordinary business of life.✓
- 4Economics is the science which studies human behavior as a relationship between ends and scarce means.
Correct answer
Economics is a study of mankind in the ordinary business of life.
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