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Question
Who proposed scarcity definition of Economics?
Who proposed scarcity definition of Economics?
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Solution
The correct option is A Lionel Robbins
Lionel Robbins gave the
scarcity definition of economics. According to him, economics is a science that studies human behavior as
a relationship between ends and scarce means which have alternative uses. We
study those wants of people who are concerned with goods and services.
And
there is no limit to these wants and all of them cannot be satisfied due to
scarce resources.
Lionel Robbins gave the
scarcity definition of economics. According to him, economics is a science that studies human behavior as
a relationship between ends and scarce means which have alternative uses. We
study those wants of people who are concerned with goods and services.
And
there is no limit to these wants and all of them cannot be satisfied due to
scarce resources.
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