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What is Economics: Definitions and Key Concepts about?

This document provides an overview of microeconomics and definitions of economics. It discusses four main definitions: 1) Wealth definition by Adam Smith who defined economics as the science of wealth. 2) Welfare definition by Alfred Marshall who defined economics as the study of man in his ordinary business of life, focusing on both wealth and well-being. 3) Scarcity definition by Lionel Robbins who defined economics as the study of human behavior in relation to scarce resources with alternative uses.

Author

Dental Sloss

Language

EN