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Question 27 of 35

Q."Economics is a study of mankind in the ordinary business of life" - It is the statement of :

(a) Alfred Marshall
(b) Adam Smith
(c) Samuelson
(d) Lionel Robbins
Tamil Nadu DgeTamil Nadu HSC First Year (DGE) Commerce Board 2024MCQ· 1mImportance★★★★★
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The correct option is (a) Alfred Marshall: the welfare definition is Marshall's.

The statement "Economics is a study of mankind in the ordinary business of life" is the opening line of Alfred Marshall's welfare definition of economics, which studies how people earn and use income to promote material welfare.

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