Question

(1) State the definition of economics given by Robbins.​

Answer 1

Answer:

In its most simple and concise definition, economics is the study of how society uses its limited resources.

Economics is a social science that deals with the production, distribution, and consumption of goods and services.

Macroeconomics - the branch of economics that studies the overall working of a national economy.

Explanation:

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Answer 2

Answer:

In his landmark essay on the nature of economics, Lionel Robbins defined economics as

“the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses”

Explanation:

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