Explain Robbin's definition of economics is the science of scarcity and choice.
XI Economics Explain Robbins definition of economics is the science of scarcity and choice.
Q economics is the science of scarcity and choice. Elucidate.
Robbins definition of economics:
‘’Economics is the science that studies human behaviour as a relationship between ends and scarce means which have alternative uses’’
Robbins definition is based on:
Multiplicity of wants Scarcity of means
In other words, robbins definition says that:
The ends are unlimited
The means to achieve those ends are unlimited
The means are capable for alternative uses.
Multiplicity of wants
As a matter of fact, never comes to an end . they are always unlimited. As soon as one wants is satisfied another comes forward.
Scarcity of means :
It refers to the limited resources due to which economics problems arise but if the resources were unlimited, then consequently there would have no economics problems.
Selection urgency of wants:
It is obvious that some of the wants are more urgent for us as compared to other, Naturally, we go to satisfy our urgent needs/ wants first and then the remaining ones.
Alternative uses:
According to the robbins definition, all the scars means are capable of alternative uses. I.e: they can be put to a number of uses. E.g water can be used for drinking as well as for cooking.
Human science:
According to him, economics is the study of human behaviour as a whole both within and outside the society.
did you check the important questions and answer
National Income & Various Concept of National Income
Measurement of National Income
Economics as a positive science:
According to robbins economics discover only the facts that give rise to certain problems and does not give suggestions as to how to deal with human behaviour that varies from man and from time to time.
Human touch missing:
In robbins definition, the human touch is entirely missing. it does not take in to account the systematic thinking, human sympathy, imagination and the variety of human life.
Macro concepts:
Another criticism on robbins definition is that it ignores the macro aspect. It has ignored the issues like employment, national income from its boundaries.
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