Question

Which definition of economics is the most acceptable and why explain?

Answer 1

Robbins' Definition. 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”.

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Answer 2

Definition of economics that is most acceptable.

Explanation:

• Economics is defined in terms of the economy and human behavior, a science of choices and effect of scarcity and coordination of processes. Thus it's defined as the science of the decision making and studies how the society uses the limited resources.

• And focuses on the four factors of production as which are the land, labor, and the capital, and the enterprise.

• 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.

Learn more about the definition of economics is the most acceptable.

• brainly.in/question/3043096 answered by Jahanvi7.