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How does Robbins define Economics? -

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Question

How does Robbins define Economics?

Options

  • Science of Markets

  • Science of Business

  • Science of Life

  • Science of Scarcity

MCQ

Solution

Science of Scarcity

Explanation:

Economics, according to Lionel Robbins, is a study of scarcity. "Economics is the science that investigates human behaviour as a link between aims and scarce means that have alternative uses," writes Prof. Robbins in his book The Nature and Significance of Economic Science.

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