Question on: JAMB Economics - 2018
The economic term used to refer to human wants, desires or needs is known as?
A
Ends
B
Alternative means
C
Scarce
D
Means
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Correct Option: A
Professor Lionel C. Robbins defined economics as the science which studies human behavior as a relation to ends and scarce means which have alternative uses.
In this definition, the “ends” in the definition refers to human wants, desire or needs. Human wants are numerous or many relative to available resources required to satisfy them.
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