ECON 2 Flashcards by Jane Suminguit

Q

growth process begins with rising labor productivity, which is a result of specialiation/ division of labor

A

adam smith

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Q

economics is a study of human as they live and move and think in the ordinary business of life

A

alfred marshall

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Q

wealth is not the end but the human welfare

A

alfred marshall

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Q

economics is the science which studies human behavior as a relationship between ends and scarce means have alternative uses/ scarcity and human behavior

A

lionel robbins

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