name the economist who has given the definition.
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Definition. In the 20th century, English economist Lionel Robbins defined economics as “the science which studies human behaviour as a relationship between (given) ends and scarce means which have alternative uses.” In other words, Robbins said that economics is the science of economizing.
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As we all know that there are many definitions given by many professors in economics . But the 2 main definitions given by popular professors are:
Explanation:
1. According to professor Adam Smith,
" Economics is concerned with the study of wealth only."
2. According to professor Lionel Robbins,
"Economics is a science which studies human behaviour as a relationship between ends and scarce means which could have alternative uses."
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