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Question
According to _________, economists should concentrate upon the study of the manner in which an economy tries to solve its problem of scarcity of means of satisfaction as compared with its needs.
According to _________, economists should concentrate upon the study of the manner in which an economy tries to solve its problem of scarcity of means of satisfaction as compared with its needs.
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Solution
The correct option is C Lionel Robbins
Lionel Robbins was a
British economist who proposed a very scientific definition on economics where
he emphasized on making choices by the study of human behaviour from various
alternative uses of the scarce resources in order to maximize the satisfaction
of most of the unlimited wants in the economy by setting up an effective
relationship between these wants and scarce means.
Lionel Robbins was a British economist who proposed a very scientific definition on economics where he emphasized on making choices by the study of human behaviour from various alternative uses of the scarce resources in order to maximize the satisfaction of most of the unlimited wants in the economy by setting up an effective relationship between these wants and scarce means.
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