Which of the following definitions correctly defines the study of Economics?

  • Thread starter Thread starter Chazza94
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C

Chazza94

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A. The study of money
B. The study of how a society uses resources to satisfy needs and wants
C. The study of how people buy things
D. The study of how society spends
 
All these stated above can be summarized and make it one meaning.
According to Prof. Lionel Robbins He defines economics as a social science which studies human behaviour as a relationship between ends and scarce means which have alternative uses. With this, one can boldly say it is B
 
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