“Definitions of Economics”

• Prof Lord Robbins:

Economics is the science which studies human behavior as

a relationship between ends and scarce means which have alternate uses.

• Adam Smith:

Adam Smith defined Economics as a science of wealth,

Adam Smith in his research papers explained the concept of Economics
under the heading.
“An Enquiry into the Nature and Causes
Into The Wealth of Nation”

• Alfred Marshall:

Economics is the study of mankind in the ordinary business

of life. It examines that part of individual and with the social action
which is most clearly connected with the attainment and with the use of
material requisites of well being.

• F.A Walker:
Economics is that body of knowledge which relates to
wealth.

• J.E Cairnes, J.S Mill:

Economy is the science which deals with the phenomena of

wealth.