Friday, March 12, 2010

Robbin's Definition of Economics

Definition:

Economics is a science which studies human behaviour as a relationship between multiple ends and scarce resources.
Following are the important points of his definition.

1-Multiple Ends.
2-All Wants Are Not Equally Important.
3-Scarce Resources.
4-Alternative use of Resources

This definition highlights the existence of economic problem.

Merits:

Following are the merits of his definition,
1-It clearly identifies the existence of economic problem in a most comrehensive manner.
2-I extended the scope of Economics.
3-It helps to analyse the economic problems of people.

Demerits:

1-Robbin has tried to make Economics a pure positive science where as it is a social science.
2-Robbin's definition deals with the ends,means and there alternative uses.He is not concerned with the welfare of people.
3-He says that resources of all types are limited but some are unlimited like labour.

This information is taken from the book of Economics written by Abdul Haleem Khawja.

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