Attributes of the Robbins Definition

by • 18/06/2011 • B.COM PART 1 EconomicsComments (0)371

Followings are some of the attributes of Robbins definition:

1. Multiplicity of Ends:

As a matter of fact, never come to an end. They are always unlimited. As soon as one want is satisfied, another comes forward. Thus it is the unlimitedness of a person wants that never stops him from working and keeps him engaged in the work of earning money for the satisfaction of his wants.

2. Scarcity of Means:

It refers to the limited resources due to which economic problems arise. But if the resources were unlimited, then consequently there would have no economic problems and all the wants would have been satisfied. But it should be noted that the means are scare with respect to their demand.

3. Selection / Urgency of Wants:

It is obvious that some of the wants are more urgent for us as compared to others. Naturally, we go to satisfy our urgent needs / wants first and then the remaining ones. If all the wants are same there would be no urgency to fulfill then and hence no economic problem would arise.

4. Alternative Uses:

According to the Robbins definition all the scars means are capable of alternative uses i.e. they can be put to a number of uses e.g. water can be used for drinking as well as for cooking. The main problem arises that where the utilization should be made first.

5. Human Science:

Robbins in his definition has broadened the scope of economics. According to him economics is the study of human behavior as a whole both with in and out side the society. It does not restrict the subject matter within specific limits.

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