Which of the following statement best defines needs and wants?
A)Wants occur when a person feels physiologically deprived of something, and needs are determined by a person's knowledge, culture, or personality.
B)Needs occur when a person feels physiologically deprived of something like food, clothing, and shelter whereas wants are felt needs that are shaped by a person's knowledge, culture, or personality.
C)Wants are a subset of needs.
D)Needs affect marketing, but wants do not.

Question

Quizplus · Accepted Answer

Needs are basic necessities required for human survival like food, clothing, and shelter. Wants are felt needs that go beyond basic necessities and are shaped by a person's culture, knowledge, and personality. For example, while everyone needs food to survive, the specific types of food a person wants can vary greatly depending on their culture and personal preferences. Thus, Option B correctly defines needs and wants. Option A is incorrect because it wrongly suggests that wants are related to a person feeling physiologically deprived of something. Option C is incorrect because wants are not a subset of needs but rather a separate category altogether. Option D is incorrect because both needs and wants affect marketing.

Which of the Following Statement Best Defines Needs and Wants