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The "Welfare Definition" of Economics is associated with:
AJ.B. Say
BAlfred Marshall
CLionel Robbins
DAdam Smith
Answer & Solution
Correct answer: B. Alfred Marshall
1. Per OCR: "Welfare definition: This definition was given by Alfred Marshall."
2. Marshall's book: "Principles of Economics" (1870).
3. Definition focuses on mankind in ordinary business of life.
_Source: ICMAI BoS CMA Foundation Paper 4 (FBEM) — Paper4_07042026.pdf, Module 1 §1.1.1 (page 14)_