GK
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
An inquiry into the nature and causes of the wealth of the nation:A.C.Pigou.
|
|
|
Science which deals with wealth:Alfred Marshall.
|
|
|
Economics is the science which studies human behavior as a relationship between end and scarce means which have alternative uses:Robins.
|
|
|
The range of our inquiry becomes restricted to that part of social welfare that can be brought directly or indirectly into relation with the measuring rode of money:Adam Smith.
|
Detailed explanation-1: -According to him, economics is a science that studies human behavior as a relationship between ends and scarce means which have alternative uses. We study those wants of people which are concerned with goods and services. And there is no limit to these wants and all of them cannot be satisfied due to scarce resources.
Detailed explanation-2: -Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses. Economics comes in whenever more of one thing means less of another.
Detailed explanation-3: -He defined economics as a science that studies human behaviour as a relationship between ends and scarce means that have alternative uses. Here, ends are the needs and scarce means are the limited resources that can be put to different uses.
Detailed explanation-4: -Mehta has defined Economics, “as a science which studies human behaviour as a means to the end of want lessness”. Human behaviour is the subject matter of the science of Economics. It is generally the result of a state of disequilibrium of human mind. Disequilibrium is due to more pain than pleasure.