Why is Robbin’s definition of economics is considered superior to the Adam Smith’s and Alfred Marshall’s definitons? |
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| Ans : Robbin’s definition of economics is considered superior to the Adam Smith’s and Alfred Marshall’s definitons. It can be explained as follows:
i) Positive Science:- Robbin’s definition is regarded as superior to other definition because it tries to turn economics into more accurate and exact science. According to this definition, economics is positive science and it is neutral between ends. It explains the actual behavior of economic phenomenon without making any value judgement.
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