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Lionel Robbins defines economics as the science of studying human behavior in making choices with limited resources, incorporating a social science perspective and emphasizing purposeful human actions.
Lionel Robbins defines economics as "the science which studies human behavior as a relationship between given ends and scarce means which have alternative uses." This definition emphasizes the fundamental concept of scarcity and choice in economic decision-making, where individuals must allocate limited resources to achieve their desired objectives.
By viewing economics as a social science, it acknowledges the role of human behavior and the utilization of empirical evidence in studying economic phenomena. This perspective highlights the scientific approach taken to analyze how individuals make choices among available alternatives based on their preferences and constraints.
Economics, described as the science of human action, delves into the conscious decisions and actions individuals undertake to pursue various goals with the resources at their disposal. It focuses on purposeful behavior aimed at achieving desired outcomes efficiently and peacefully within the context of limited time and resources.
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