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Which of the following definitions of Economics include the economic concept of ‘scales of Preferences’?

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Question:

Which of the following definitions of Economics include the economic concept of ‘scales of Preferences’?

A.

Wealth definition

B.

Welfare definition

C.

Scarcity definition

D.

Growth definition

Answer» c. Scarcity definition

Note: The above multiple-choice question is for all general and Competitive Exams in India.