Again, most of the chief distinctions marked by economic terms are differences not of kind but of degree.
More Quotes from Alfred Marshall:
Material goods consist of useful material things, and of all rights to hold, or use, or derive benefits from material things, or to receive them at a future time.Alfred Marshall
Economics has as its purpose firstly to acquire knowledge for its own sake, and secondly to throw light on practical issues. But though we are bound, before entering on any study, to consider carefully what are its uses, we should not plan out our work with direct reference to them.
Alfred Marshall
It is common to distinguish necessaries, comforts, and luxuries; the first class including all things required to meet wants which must be satisfied, while the latter consist of things that meet wants of a less urgent character.
Alfred Marshall
Capital is that part of wealth which is devoted to obtaining further wealth.
Alfred Marshall
In the absence of any short term in common use to represent all desirable things, or things that satisfy human wants, we may use the term Goods for that purpose.
Alfred Marshall
All wealth consists of desirable things; that is, things which satisfy human wants directly or indirectly: but not all desirable things are reckoned as wealth.
Alfred Marshall
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