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Nica Nica
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5 years ago

Question 1.

Economists are concerned with an individual's

• needs because needs are most important to an individual's well being.

• needs because economists define needs to be the goods people need to survive.

• wants because the existence of wants leads to scarcity.

• wants because wants always lead to shortages in the economy.

Question 2.

To an economist, the term "needs"

• refers only to material desires but not nonmaterial desires.

• refers to the purchase of goods by the poor.

• identifies the purchases of basic goods and services.

• is objectively undefinable.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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samah952samah952
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