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Questions and Answers
Which of the following best describes needs?
Which of the following best describes needs?
- Things people must have to survive (correct)
- Products that are unnecessary
- Non-essential items for survival
- Luxury items people desire
What are wants in relation to goods and services?
What are wants in relation to goods and services?
- Luxury items that people desire (correct)
- Essential items for survival
- Unnecessary products for human needs
- Basic goods needed for everyday life
How can goods and wants be expressed in economic terms?
How can goods and wants be expressed in economic terms?
- As items demanded for satisfaction of human desires (correct)
- As basic necessities for everyday living
- As non-essential items for comfort
- As products necessary for survival
Which type of goods are used by individuals?
Which type of goods are used by individuals?
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Which type of goods are used by businesses to produce products?
Which type of goods are used by businesses to produce products?
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Which type of goods last fewer than 3 years?
Which type of goods last fewer than 3 years?
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