3) Key points in Lionel Robbins' definition :
a) Wants are unlimited
b) Means are limited
c) Wants are not gradable
d) Means have alternative uses.
Options: 1) a and b
2) b and c
3) a, b and d
4) a, b, c and d
Answers
Answer:
a and b ho skta hai pkaa ye hi hoga
Answer:
Key points in Lionel Robbins' definition are Wants are unlimited, Means are limited, Means have alternative uses.
Option (3) a, b and d is correct.
Explanation:
Lionel Robbins stated three very important things. Firstly, Wants are unlimited. A man is a social animal with a never-ending desire. This desire acts as a driving force in his pursue of things and feelings of achievements they attains after doing tasks. Wants are only increasing by the day which brings us to our next point, the scarcity of means.
Means are limited because these wants are ever-increasing. Means and wants aren’t proportional and with the rise on factor brings a low in its nemesis factor. Lastly the existence of alternative uses which sums up the ability of man to use these available and scarce means to their fullest so that they can last long.