<Li> Economics is a study of humankind . </Li> <Li> Human life has several aspects: social, religious, economic and political--but economics is concerned only with the economic aspect of life . </Li> <Li> Promotion of welfare is the ultimate goal, but the term welfare is used in a narrow sense to meet material welfare only . </Li> <P> According to Edwin Cannan, "the aim of political economy or Economics is the explanation of the general causes on which the material welfare of human beings depend". </P>

Who said human welfare is the subject of economics