Write a description of Economics given by Lionel Robbins. – InterviewSolution

1.	Write a description of Economics given by Lionel Robbins.
Answer» According to Lionel Robbins, “Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses”. Since human wants are unlimited their priority is determined. The satisfaction of the basic needs are given priority. A scarce resource like land can be used either for agriculture or industries or development of infrastructure. In this way, Economics studies human behaviour related to unlimited wants with limited resources that have alternative uses

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