Nature & Scope of Macroeconomics
Quick practice
Question 1 of 5
In the given question two statements are labeled as a statement I and statement II. Which among the following options is correct in the context of the two statements?
Statement I: The Wealth Definition of Economics is given by Alfred Marshall (1723-1790).
Statement II: Key Features of Wealth Definition are the objective of Economics is to increase the wealth of a country, It considers production, distribution and consumption as the core of economic activity, It deals with causes of the creation of wealth in an economy and The term ‘wealth’ used in this definition considers material wealth.
Both statements are correct.
Statement II is correct, but the statement I is incorrect.
Both statements are incorrect.
Statement I is correct, but statement II is incorrect.
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