Question

what do you mean by the terms 'ends' and 'means' in economics?​

Answer 1

Answer:

Ends = the human needs/wants. Means = resources. Hence, Economics helps us to fulfill the unlimited human needs by using the limited and scarce resources. Now these needs and means can vary according to the situation and from person to person.

Answer 2

Answer:

Ends and Means. The result sought by an action is called its end, goal, or aim. One uses these terms in ordinary speech also to signify intermediate ends, goals, or aims; these are points which acting man wants to attain only because he believes that he will reach his ultimate end, goal or aim in passing beyond them.