Match the following in terms of definitions of economics:
A. Wealth Centred Definition (i) Walker
B. Welfare Centred Definition (ii) Marshall
C. Scarcity Centred Definition (iii) Robbins
D. Wantlessness Centred Definition (iv) J. K. Mehta

Question

Match the following in terms of definitions of economics: 
A. Wealth Centred Definition (i) Walker 
B. Welfare Centred Definition (ii) Marshall 
C. Scarcity Centred Definition (iii) Robbins 
D. Wantlessness Centred Definition (iv) J. K. Mehta

Accepted Answer

Option 2 is the correct answer because it accurately matches the economists with their respective definitions of economics. Here's a detailed explanation:

1. **Wealth Centred Definition (A-i): Walker**  
   The Wealth Centred Definition is associated with early economists like Adam Smith, who emphasized the accumulation of wealth as the primary focus of economics. However, in the context of the given options, Walker is linked with this definition. Walker's contributions to economics often revolved around wealth and its distribution, aligning him with the Wealth Centred Definition.

2. **Welfare Centred Definition (B-ii): Marshall**  
   Alfred Marshall is well-known for his Welfare Centred Definition of economics. He shifted the focus from wealth to human welfare, emphasizing that economics should study how people achieve well-being. Marshall's definition highlights the importance of improving living conditions and overall welfare, making him the correct match for this category.

3. **Scarcity Centred Definition (C-iii): Robbins**  
   Lionel Robbins is famous for his Scarcity Centred Definition of economics. He defined economics as the science of scarcity and choice, focusing on how individuals allocate limited resources to satisfy unlimited wants. Robbins' definition is a cornerstone of modern economic theory, making him the appropriate match for this category.

4. **Wantlessness Centred Definition (D-iv): J. K. Mehta**  
   J. K. Mehta introduced the Wantlessness Centred Definition, which emphasizes the state of achieving satisfaction and the absence of wants. This definition is less conventional but highlights a unique perspective on economics, focusing on the ultimate goal of wantlessness or contentment.

**Explanation of Incorrect Options:**

- **Option 1: [A-iv] [B-iii] [C-ii] [D-i]**  
  This option incorrectly matches the economists with the definitions. For example, it assigns J. K. Mehta to the Wealth Centred Definition, which is inaccurate as Mehta is associated with the Wantlessness Centred Definition.

- **Option 3: [A-ii] [B-i] [C-iii] [D-iv]**  
  This option incorrectly assigns Marshall to the Wealth Centred Definition and Walker to the Welfare Centred Definition, which is not consistent with their contributions to economic thought.

- **Option 4: [A-i] [B-ii] [C-iv] [D-iii]**  
  This option incorrectly matches Robbins with the Wantlessness Centred Definition and J. K. Mehta with the Scarcity Centred Definition, which does not align with their known economic theories.

In conclusion, Option 2 is the correct answer as it accurately matches each economist with their respective definition of economics, based on their contributions and theories.