"Wants" as an economic concept includes
A) both material and nonmaterial desires.
B) only the purchase of necessary basic goods.
C) only the desire for luxury goods.
D) only goods and services that consumers need but cannot afford to buy.

Question

Quizplus · Accepted Answer

"Wants" as an economic concept includes both material and nonmaterial desires. These desires can range from basic necessities like food and shelter to luxury items like designer clothing and expensive cars.

"Wants" as an Economic Concept Includes