Varied definitions of the subject “Economics” abound. But the most comprehensive definition (as generally accepted by scholars) is the one given by Professor Lionel Robinson who defined Economics as a “Science that studies human behaviour as a relationship between ends and scarce means which have alternative uses”.

This definition implies that man has “ends” (wants) to satisfy. These ends are limitless but the resources available to produce and satisfy these ends (wants) are scarce and have alternative uses

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