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Alfard marshal ne ye theory i think 1890 mai paish ki thi according to him .. “Economics is a science which studies human behavior in the ordinary business of life, it examines that part of individual and social action which is most closely connected with the attainment and with the use of material requisites of well being” key concepts are:- Ordinary business of life:- according to alfard marshal economics is a social science which studies human behavior in the ordinary business of life or social life” Saints and mad persons which do not participate in any social activities are not to be studied in economics Analysis of economic activities:- People perform dillerent activities while living in a society. There are different subjects to cover the different activities, for example sociology for social activities , political science for political activities , physical education for sports etc Economic activities are ---- OUTPUT,, PRICE ,, EMPLOYMENT,, INVESTMENT ETC Attainment and use of Material Requisites:- alfard marshal explains the nature of economic activities as the activities which are related with the obtainment (production) and use (consumption) of material requisits ( wealth) this means that...................
Approximate Word count = 481
Approximate Pages = 1.9
(250 words per page double spaced)
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