In economic language,"wants"
A) is another term for needs.
B) refer to services while needs refer to goods.
C) is the term used by economists instead of needs because needs are not objectively definable.
D) are used by economists and refer to the same thing as needs when used by psychologists.
Correct Answer:
Verified
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
Q13: Economists speak of using resources to satisfy
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
Q19: In economics,the things that people would consume
Q22: The most basic concept in economics is
A)wealth.
B)income.
C)scarcity.
D)spending.
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