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:
1. http://www.econlib.org/library/Enc/bios/Marshall.html
2. http://en.wikipedia.org/wiki/Alfred_Marshall
3. http://cepa.newschool.edu/het/profiles/marshall.htm
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