Skip to main content

Economics is the science of scarcity and choice. & Criticism Of Robbins Definition

Economics is the science of scarcity and choice. & Criticism Of Robbins Definition
Qno.1 Economics is the science of scarcity and choice. Elucidate.

Robbins Definition of Economics


Prof. Lionel Robbins gave his definition of economics in his book” Nature and significance of Economic Science” in the year 1932 .He defined economics as,” Economics is the science that studies human behavior as a relationship between ends and scarce means which have alternative uses.” Robbins definition is based on:


1. Multiplicity of wants.

2. Scarcity of means

In other words, Robbins definition says that:
1. The ends are unlimited,
2. The means to achieve those ends are limited, and
3. The means are capable of alternative uses. 

Trending topics 
Theory Of Comparative Cost Or Riparian Theory of comparative cost

MEASURES TO CORRECT DISEQUILIBRIUM IN THE BALANCE OF PAYMENTS

ATTRIBUTES OF THE DEFINITION:
Followings are some of the attributes of Robbins definition:

1. Multiplicity of Ends:
As a matter of fact, never comes to an end. They are always unlimited. As soon as one want is satisfied, another comes forward. Thus it is the un limitedness of a person wants that never stops him from working and keeps him engaged in the work of earning money for the satisfaction of his wants.


2. Scarcity of Means:
It refers to the limited resources due to which economic problems arise. But if the resources were unlimited, then consequently there would have no economic problems and all the wants would have been satisfied. But it should be noted that the means are scare with respect to their demand.


3. Selection / Urgency of Wants:
It is obvious that some of the wants are more urgent for us as compared to others. Naturally, we go to satisfy our urgent needs / wants first and then the remaining ones. If all the wants are same there would be no urgency to fulfill then and hence no economic problem would arise.


4. Alternative Uses:
According to the Robbins definition all the scars means are capable of alternative uses i.e. they can be put to a number of uses e.g. water can be used for drinking as well as for cooking. The main problem arises that where the utilization should be made first.

5. Human Science:


Robbins in his definition has broadened the scope of economics. According to him economics is the study of human behavior as a whole both within and outside the society. It does not restrict the subject matter within specific limits.

CRITICISM OF THE DEFINATON:
Robin’s definition also faces criticism from many economists. Some of the criticizing point’s areas follow:

1. Economics as a Positive Science:
According to Robins, economics discovers only the facts that give rise to certain problems and does not give suggestions as to how to deal with human behavior that varies from man to man and from time to time. So it is not a physical science, which deals with matter and energy and remains unchanged at any place. Economics is therefore not a physical science. It discovers causes / efforts and suggestions.

2. Human Touch Missing:


In Robbins definition the human touch is entirely missing. It does not take in to account the systematic thinking, human sympathy, imagination and the variety of human life.

4. Macro Concept:

Another criticism on Robbins definition is that it ignores the macro aspect. It has ignored the issues like employment, national income from its boundaries.

5. Does not Covers Economics of Growth:

The economic growth theory or economic development theory has been overlooked in Robbins definition. Economics of growth explains how an economy grows and the factors, which bring about an increase in national income and productivity of the economy. Robbins takes the resources as given and discusses only their allocation.

would you like to download Economics is the science of scarcity and choice. & Criticism Of Robbins Definition in pdf form
ager app yeh sabak download karna chahtey hai toh download server per click karey

Comments

Popular posts from this blog

Free Download Notes XI & XII Commerce Notes & Book In Pdf

Free Download Notes XI & 1st Year Notes Download In Pdf XI Accounting Book  Economics Notes Pdf Free Download Urdu Notes for 1st Year (Class 11)  Another Urdu Notes For XI  Islamiat For XI  Principle Of Commerce 1st year XI POC Notes (Best) Server 01 XI POC ( Principle of Commerce ) Guess Paper Solved 2021 Free Download Notes  XII Commerce Notes & Book In Pdf XII Accounts Book With Solutions 2nd-year Urdu Notes Free Download Pdf XII English Notes Pdf 2nd Year English Notes Adam jee  2nd Year Commercial Geography  2nd Year Pak Studies Notes XII Pak Studies Notes In English Adam Jee XII Pak Studies Solved Paper XII Banking Notes (Shah Commerce) Another 2nd Year Banking Notes XII  CG Solved Papers Commerce Online Notes By Sir sultan hamid hussain (All credit goes to Sir Sultan) Server 01 Commercial Geography Notes In English By Sir Sultan Server 01 Commercial Geography Notes Notes In Urdu By Sir Sultan Server 01 XII Banking Notes Short Q

Questions And Answers The Count’s Revenge By J.H.Walsh

THE COUNT’S REVENGE (J.H.WALSH) Q: 1 What Arab custom is referred in the short play “The Count’s Revenge”? An Arab custom mentioned by the Countess of Morcerf to Albert and the Count of Morcerf when the count of Monte Cristo leaves their house without eating anything. The custom runs as “Never to eat food at the house of a deadly enemy”. She strongly believes that since the Count of Monte Cristo has a faith in that custom and thinks them to be his enemy, and hence not eat anything at their place.   Q: 2 What do you know about the reaction, plans or intention of Albert? Albert, the brave young son of the count of Morcerf, was deeply shocked by the disgrace of his father and family. As a man of honour, he showed severe emotional reaction to the unhappy incident. Albert made his mind to trace about the unknown enemy of his family and avenge the family honour. On his request, Beauchamp, a close friend of Albert, discovered the name of the enemy. It was Albert;s

English Essay Problems of Karachi

Problems of Karachi Karachi is the biggest city in Pakistan and one of the most thickly populated cities in the world. Its population has increased rapidly and accordingly has given rise to many social problems. People of this metropolis are becoming more and more concerned about solving these serious problems, some of which are discussed below. The ever-increasing rush of heavy traffic on the roads is resulting in heavy loss of human life. One day or the other, people suffer from accidents due to reckless driving. Some lose their vehicles and some go to the police. This is due to lack of civic sense in the citizens and violation of traffic rules. Traffic jams, road quarrels, untidiness and damage of public property are also the results of this problem. The government has not done any planning to control this situation in the past two decades. In the same manner, the government has never emphasized upon population distribution. As a result, slum areas are rapidly being built, wher

Short Questions Answers of The Prisoner of Zenda ~Drama Novel Prisoner of Zenda

 N OVEL Question 1)Tell in your own words how the first meeting came off between the two distant cousins? Answer) Rudolf leaves the inn one day as he is given an opportunity to stay at Jahan’s sister at Strelsau. Instead of going, he decides to walk through the forest and have a look at the castle of Zenda. He sits down in the forest to have some rest as well as smoke a cigar. After smoking his cigar, he unintentionally falls asleep. Shouts and sound of laughter wake him up. On opening his eyes, he sees two men standing near him. They are Fritz Von Tarlenheim and Colonel Sapt. They tell him that he looks exactly like their king except that he has a beard. At that moment King Rudolf appears. Rassendyll greatly surprises to see king Rudolf in the forest of Zenda. He gives a cry when he finds that Rudolf is just like him. Rudolf’s face and appearance are quite like his own. Rudolf’s height appears to be slightly less than his. Rassendyll bows respectfully before the king. In a happy m