Question

Which of the following can be treated as a demerit of Robbins' definition?

• A. Robbins has made economics quite impersonal and colourless.
• B. His definition does not cover the theory of economic growth and development.
• C. Robbins assumed rationality on the part of economic units in their behaviour. But in real life situation, a man is influenced more by customs and habits than by rational outlook.
• D. All of the above

Answer 1

The correct option is D All of the above

Lionel Robbins was a British economist who proposed a very scientific definition on economics which was very colorless as it demanded all the economy variable to stay rational at the time of application of such theory which was not possible in real life situation. Moreover, the definition did not emphasized on economic growth and development.