Economists speak of using resources to satisfy wants,not needs.They do so because
A) needs are most usefully viewed as wants an individual would give up large amounts of other desirable things to satisfy.
B) only biologists and psychologists are qualified to talk about human needs.
C) there are not enough resources to satisfy all wants of everyone in the world but there are enough to satisfy their needs.
D) people never make choices between their different needs.
Correct Answer:
Verified
Q8: Economists sometimes say that wants are "unlimited"
Q9: "Wants" are
A)another term for needs.
B)all the things
Q10: A person goes to college to become
Q11: Services can be thought of as
A)free goods.
B)intangible
Q14: In economic language,"wants"
A)is another term for needs.
B)refer
Q15: Scarcity exists because human wants _.
Q16: Which of the following statements about scarcity
Q17: In economic language,when a resource is used
Q18: In producing goods and services,trade-offs exist between
Q22: The most basic concept in economics is
A)wealth.
B)income.
C)scarcity.
D)spending.
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