The economic term used to refer to human wants, desires o...
The economic term used to refer to human wants, desires or needs is known as?
Ends
Alternative means
Scarce
Means
Correct answer is A
Professor Lionel C. Robbins defined economics as the science which studies human behavior as a relation to ends and scarce means which have alternative uses. The “ends” in the definition refers to human wants, desire or needs. Human wants are numerous or many relative to available resources required to satisfy them.
Find the median of the following set of scores 8,9,6,5,10 ...
Which of the following is a direct tax ...
The type of production that involve the tapping and harnessing of natural resources is ...
Which of the following measures will not encourage industrialization in West Africa? ...
A high rent on land will affect the cost of producing maize ...
Pure monopoly describes market where ...