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Ends and Values

All action involves the employment of scarce means to attain the most valued ends. Man has the choice of using the scarce means for various alternative ends, and the ends that he chooses are the ones he values most highly. The less urgent wants are those that remain unsatisfied. Actors can be interpreted as ranking their ends along a scale of values, or scale of preferences. These scales differ for each person, both in their content and in their orders of preference. Furthermore, they differ for the same individual at different times. Thus, at some other point in time, the actor mentioned in section 2 above might choose to go for a drive, or to go for a drive and then to play bridge, rather than to continue watching the game. In that case, the ranking on his preference scale shifts to this order:

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