WAEC Economics 1994 Question 1

Question 1

Basic Concepts

The definition of Economics as 'the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses' was given by

  1. A.Adam Smith
  2. B.David Ricardo
  3. C.Lionel Robbins
  4. D.Thomas R. Malthus
  5. E.Robert Giffen
Show the answer and explanation

Answer: C (Lionel Robbins)

Explanation

Lionel Robbins gave this scarcity definition of Economics in 1932.