Alfred Marshall defines economics as, "The science which studies human behaviour as a relationship between ends and scarce means, which have an alternative use."
Lionel Robbins led on frontal attack on the Marshallian view in the study of economics. The main points of criticism are: 1. Welfare is not measurable. It varies from individual to individual, person...
"Political Economy or Economics is a study of mankind in the ordinary business of life. It examines that part of individual & social action which is most closely connected with the attainment...