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Superiority of the Definition of Economics by Robbins

RObbin's definition of economics as the science of scarcity and choice is regarded as the superior over Marshallian definition of economics on the following grounds:
  • Scientific Definition
Robbins definition of economics is considered as more scientific and analytical definition than that of Marshall's definition because it is far from classificatory. Marshall's definition is classificatory into material and non-material welfare, economic and non-economic activities.
  • Universal Application
The concept of scarcity and choice is widely applicable in any form of economy. It is applicable to planned and unplanned economics, capitalist and socialist economics or mixed economics. Therefore, they are of universal application.
  • Science of Choice
Choice of resources among unlimited needs or desires of civil society as well as government is the basis of Robbins' definition. It guides a government to utilize limited resources to meet infinite needs of the people. Similarly, Robbins' definition guides enterprenuers to achieve maximum profit by utilizing limited capital and human resources in the line of production.
  • Wider Scope
Robbin's definition of economics has wider scope than that of Marshall. Robbins explained that human wants, wheather material or non-material, come under the study of economics. But, Marshall's definition has clearly limited the scope of economics to material welfare and social life.




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