Archive | Definitions

Top 4 Definitions of Economics

The following points highlight the top four definitions of economics by eminent economists of all times. The definitions are: 1. Wealth Definition of Economics by Adam Smith 2. Alfred Marshall’s Definition of Economics 3. Robbins' Definition of Economics 4. Modern Definition of Economics. 1. Wealth Definition of Economics by Adam Smith: Economics is sometimes defined as the science of wealth. [...]

By Nipun S|2017-01-13T05:58:27+05:30January 13, 2017|Definitions|Comments Off

Top 4 Definitions of Economics (With Conclusion)

The following points highlight the top four definitions of Economics. The definitions are: 1. General Definition of Economics 2. Adam Smith's Wealth Definition 3. Marshall's Welfare Definition 4. Robbins' Scarcity Definition. 1. General Definition of Economics: The English word economics is derived from the ancient Greek word oikonomia—meaning the management of a family or a household. It is thus clear [...]

By Deepali Pal|2015-12-19T15:21:15+05:30November 17, 2015|Definitions|Comments Off