BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -According to him wealth is not end but only a means to an end, the end being human welfare. (End-human wants, means-resources to satisfy human wants.) As Marshall puts it, Economics is “on the one side a study of wealth; and on the other and more important side, a part of the study of man”.

Detailed explanation-2: -Economics is the study of mankind in the ordinary business of life.-Alfred Marshall.

Detailed explanation-3: -According to Alfred Marshall, economics is the study of man in the ordinary business of life. It examines how a person gets his income and how he invests it. Thus, on one side, it is a study of wealth. On the other most important side, it is a study of well-being (welfare).

Detailed explanation-4: -In general economics is a subject which deals with human behaviour . 1. “Economics is an enquiry into the nature and causes of wealth of nations."-Adam Smith. 2. Economics is the science which treats of wealth.