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explain robinsons scarcity oriented definition of economics


Tank haresh jayeshbhai 18th Nov, 2019
Answer (1)
Atharva Bhombe 1st Dec, 2019

Hello,

According to the Lionel Robbins , " Economics is the science which studies human behavior as a relationship between unlimited ends and scarce means which have alternative uses " so this is explained as economics is the science in which we study the human behavior and as the behavior the humans, they are never satisfied i.e human wants are unlimited which can never be fulfilled. if one desire is fulfilled the new on arise immediately. but there is so limited amount of the resources so the every desire cannot be fulfilled. so the economics is help us to do so that with limited sources we can fulfill our needs by finding the alternatives.

Hope this answer will help you

Good luck

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