What are ends and means in economics?

A basic definition of economics which states 'economics as a science that understands human choices and responses to the limited resources'. Ends = Human needs. Means = Available resources. Suppose you have Rs.50 with you. But you wish to eat an ice cream or buy sweets or buy a chocolate or give to your sibling. read more

Means and ends are the bases on which the whole science of economics is built. Economics as a science is the study of the relationship between unlimited wants and scarce means and the ways to attain these means. read more

Economics studies how people will use the limited resources (scarce means), which also has many other uses, in the best possible manner for fulfilling their needs (ends). Analogy There are 10 people in a house. read more

Some Americans eagerly take an “activist” line. They would use the full weight of the political apparatus to mandate, coerce, punish, tax, spend, engage in deficit spending, and print money in order to attain their ends. They call on government to actively pursue the economic ends. read more