Which of the following statements regarding people's wants is true?
A) Over time, people's wants tend to be stable and constant.
B) As people consume more products, their wants will be reduced.
C) Intangible services, just like tangible goods, may satisfy people's wants.
D) People's wants do not include their basic needs.

Question

Quizplus · Accepted Answer

Intangible services, such as education, healthcare, and entertainment, can satisfy people's wants. This is because wants can include experiences, feelings, or desires that cannot be fulfilled by tangible goods alone. Option A is incorrect because people's wants can change over time, such as with changes in technology or cultural shifts. Option B is incorrect because as people consume more products, their wants may increase or change, rather than decrease. Option D is incorrect because people's basic needs, such as food, shelter, and clothing, are often considered the foundation of their wants.

Which of the Following Statements Regarding People's Wants Is True