Question

merits of robbins defination

Answer 1

Prof. Robbins criticized the Marshall's definition and offered the most precise and scientific definition of economics.

" The science which studies human behavior as a relationship between ends and scarce means which have alternative uses."

Following are the main components of Robbin's definition.

1. UNLIMITED WANTS :-
Human wants are unlimited. it is not possible to find a person who may that his wants have been completely satisfied.

2. LIMITED MEANS :-
Our means and sources are limited to satisfy unlimited wants. If all the things were freely available then there would be no economic problem.

3. IMPORTANT AND LESS IMPORTANT WANTS :-
Some wants are more important while others are less important. If we choose one desire to fulfill then we will have to sacrifice the other one.

4. MEANS HAVE ALTERNATIVE USES :-
The scarce resources have alternative uses. A piece of land can be used for the factory or for the school but man has to choose the best way.

MERITS OF ROBBINS DEFINITION

1. WIDER SCOPE :-
According to this definition economics has much wider content. It takes into account all types 

Answer 2

Answer:

write two demerit of the definition of prof. marshall