What is Economics?
Alfred Marshall (1842-1924), one of the most influential economists during his lifetime, defined economics as the "study of mankind in the ordinary business of lie; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisites of well-being."
Principles of Economics, 8th ed. (New York, Macmillian, 1920), p.1.
To know more about Alfred Marshall, click the following links: