Modern economists do not agree wit the older point of view. They regard Economics as a separate discipline, which seeks to inquire how man gets his income and how he uses it. Alfred Marshall, the celebrated economist, considers it "on the one side the study of the wealth and on the other and more important side a part of the study of man." Its scope is the study of human welfare and includes a discussion on Consumption, Production,Exchange,and Distribution-the four pillars on which the edifice of Economics is built.