Who gave the definition of Economics related to welfare
Question
Who gave the definition of Economics related to welfare
Solution
The definition of Economics related to welfare was given by Alfred Marshall. He was a British economist and one of the most influential economists of his time. His book, "Principles of Economics" (1890), was the dominant economic textbook in England for many years. In this book, he defined economics as "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 wellbeing". Thus, it is clear that Marshall's definition of economics was related to human welfare.
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