Challenger App

No.1 PSC Learning App

1M+ Downloads
According to Marshall, what is economics mainly concerned with?

AWealth accumulation

BQuality of life and well-being of individuals

CIncreasing government revenue

DExclusive study of market fluctuations

Answer:

B. Quality of life and well-being of individuals

Read Explanation:

Marshall’s definition highlights the importance of welfare and quality of life, showing that economics should address how resources are allocated to improve the well-being of individuals in society.


Related Questions:

The concept of “social welfare function” in welfare economics represents:
The United Nations' Sustainable Development Goal (SDG) related to rural enterprises is:
Which international treaty specifically addresses gender equality and the rights of women?
Self-Help Groups (SHGs) aim to:
Kerala’s rural economy differs from much of rural India primarily due to: