Question

“Economics is the study of the administration of scarce resources and the determinants of employment and income.” Definition of Economics was given by:

A J.M Keynes Correct Answer Incorrect Answer
B Alfred Marshall Correct Answer Incorrect Answer
C Lionel Robbins Correct Answer Incorrect Answer
D Adam smith Correct Answer Incorrect Answer

Solution

Lord Keynes defined economics as ‘the study of the administration of scarce means and the determinants of employment and income”.

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