A friend says, "I really, really need a new car." As an economist, you're thinking
A) Right! Everyone needs a new car.
B) This is an example of how objectively undefinable needs are. Many would argue that this friend could get along just fine with a reliable used car.
C) If this friend says she needs a new car, then we must all agree that a new car is a need and not just a want.
D) that a new car can only be considered a need if at least 51% of the public agrees.

Question

Quizplus · Accepted Answer

As an economist, it is important to recognize that needs are subjective and depend on individual circumstances. While a new car may be seen as a need by some, others may be content with a used car or alternative modes of transportation. Therefore, the statement that "I really, really need a new car" should be examined and evaluated based on the individual's specific situation and preferences.

A Friend Says, "I Really, Really Need a New Car