Definition Of Economic By Different Economists

by • 31/07/2011 • 1st year EconomicsComments (0)491

Definition Of  Economic By Different Economists:

 

In the words of Adam Smith:

“Economics is a science of wealth”

 

 

Walter defined economics as:

“Economics is that body of knowledge which related to wealth.”

 

 

In the words of Mills:

“Economics is the science of wealth in relation to mass”.

 

 

In short, the classical school of thought emphasized purely wealth. So we can say that, “Economics studies the production, consumption, exchange and distribution of wealth.”

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