Economics: Rate the definitions
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'The study of the nature and causes of nations’ wealth' ~ Adam Smith *
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Economics is a study of man in the ordinary business of life. It enquires how he gets his income and how he uses it. Thus, it is on the one side, the study of wealth and on the other and more important side, a part of the study of man ~ Alfred Marshall *
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Economics is the study of how people and society end up choosing, with or without the use of money, to employ scarce productive resources that could have alternative uses to produce various commodities over time and distributing them for consumption, now or in the future, among various persons or groups in society. It analyses costs and benefits of improving patterns of resource allocation. ~ Samuelson *
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The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups. ~ Henry Hazlitt *
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Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses ~ Leonell Robins *
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