The economic term used to refer to human wants; desires or needs is known as?

A. Ends
B. Alternative means
C. Scarce
D. Means

Correct Answer:

Option A = Ends

Explanation

Professor Lionel C. Robbins defined economics as the science which studies human behavior as a relation to ends and scarce means which have alternative uses. The “ends” in the definition refers to human wants, desire or needs. Human wants are numerous or many relative to available resources required to satisfy them.