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Scarcity definition (Lionel Robbins)​

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Scarcity Definition (Modern Definition): Lionel Robbins. ... According to the Lionel Robbins, "Economics is the SCIENCE which STUDIES human behavior as a relationship between UNLIMITED ends and scarce MEANS which have alternative uses"ÂÂÂ . This definition was supported by various famous economists like Stigler, Peter, etc ...



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