"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."

14 likes

Source: Alfred Marshall (1997). “Principles of Economics”

About the author

Alfred Marshall

Economist

Alfred Marshall was a pioneering economist known for his work 'Principles of Economics', which shaped modern economic theory and introduced key concepts like elasticity.

All quotes by Alfred Marshall →

Same author

More quotes by Alfred Marshall

See all →