More Logical Explanation of Economic Problem: This definition has offered amore logical and precise explanation of the nature of economics. Economic problem does not arise due to material well – being. It arises mainly due to the scarcity of means in relation to their demand. Problem of choice or Valuation, which is the main problem of economics, arises because of scarcity of means and their alternative uses.
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Economics L. Robbins (Merits-5)
In this article we will discuss Economics L. Robbins (Merits-5)