"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 those goods that can be purchased with one's paycheck.

Question

Quizplus · Accepted Answer

"Wants" as an economic concept includes both material and nonmaterial desires, which can range from basic necessities to luxury goods and services. It is not limited to goods that can be purchased with one's paycheck.

"Wants" as an Economic Concept Includes