Question 1
Basic ConceptsThe 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
- A.Adam Smith
- B.David Ricardo
- C.Lionel Robbins
- D.Thomas R. Malthus
- E.Robert Giffen
Show the answer and explanation
Answer: C (Lionel Robbins)
Explanation
Lionel Robbins gave this scarcity definition of Economics in 1932.