To an economist, the term "needs"
A) refers only to material desires but not nonmaterial desires.
B) is objectively undefinable.
C) identifies the purchases of basic goods and services.
D) refers to the purchase of goods by the poor.

Question

Quizplus · Accepted Answer

The term "needs" is subjective and varies greatly among individuals and cultures, making it objectively undefinable from an economic perspective.

To an Economist, the Term "Needs