Economics has been defined as the science of allocating scarce means among competing ends. Ultimate ends to be achieved in so far as possible may be defined as well-being, satisfaction, utility, or quality of life. It has become fashionable to divaricate economics into dimensions of efficiency and equity. Defined as increasing the size of the "pie" of goods and services, efficiency has received the lion's share of attention by economists --its study has been viewed as objective, precise and respectable.