2. Which definition of economics is the most acceptable and why?
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Lionel Robbin gave the most acceptable definition of economics is the scientific field which studies the human behavior and has a link between the scarce means and their alternative uses.
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Lionel Robbins (1932) developed implications of what has been termed "[p]erhaps the most commonly accepted current definition of the subject": Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.
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