‘Economics is a science which studies human behaviours as a relationship between ends and scarce means which have alternative uses. ‘Ends’ her refers to

A. resource
B. wants
C. choice
D. output
E. factors

Correct Answer:

Option B – wants

Explanation

One of the many definitions of Economics states “Economics is a science that studies human behaviour as a relation between unlimited ends and the limited means.

Ends = the human needs/wants.
Means = resources.