Question

According to Robbins, 'means' are __________.

• A. scarce
• B. unlimited
• C. undefined
• D. all of the above

Answer 1

Answer: (A)

scarce

Lionel Robbins was a British economist who proposed a very scientific definition of economics where he described the relationship between mean i.e. scarce resources and ends .i.e. wants. By means he meant the way through which human satisfy their wants which was described as scarce due to scarce resources in the economy.