PRC-3 · Chapter 9 · Question 18 of 45
Professor Lionel Robbins defined economics by focusing on the relationship between 'unlimited ends' and 'scarce means'. In this specific context, what do 'ends' refer to?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Human wants and desires
Explanation
In Robbins' scarcity definition, 'ends' refer to the infinite human wants and desires that must be satisfied using limited (scarce) resources.
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