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L. Robbins definition has some basic characteristics. These are as follows:
1. The realistic explanation of Economics: Prof. L. Robbins in his definition explained the concept of scarcity, unlimited wants and alternative uses of limited resource or to maximize satisfaction in such a way that the main theme of economic problem has been come out of his definition. Thus the definition of Prof. L. Robbins has become more reliable than other definitions.
2. Recognition of scarcity of resources: The basic economic problems in human life have been created from the scarcity of resources. According to Prof. L. Robbins the subject matter of economics is neither wealth nor welfare rather the human behavior containing the problems of scarcity is the basic discussion of economics. Prof. L. Robbins definition is based on the basic theme which has made his definition more reliable.
3. Economics is a pure science: Prof. L. Robbins has termed economics as a pure and neutral science rather than an ethical science.
4. Scientific explanation: The scientific and analytical discussion of L. Robbins has made it a scientific study. Professor L. Robbins in his definition has emphasized the concept of problem of scarcity over human welfare. So his definition is more scientific, analytical and materialistic.
5. Complete scenario: Professor L. Robbins sketched the full pen picture of different economic problems. The issued only which are beneficial to mankind are the subject matter of economics which are the view of Professors Marshall and his followers. But Professor L. Robbins didn’t agree with this view. Really the scarcity and the problems come out from scarcity has made the scope of economics wider.