Demands differ from wants in thatA) wants require a plan to acquire a good but demands require no such plan.B) demands are unlimited, whereas wants are limited by income.C) wants imply a decision about which demands to satisfy, while demands involve no specificplan to acquire the good.D) demands reflect a decision about which wants to satisfy and a plan to buy the good, whilewants are unlimited and involve no specific plan to acquire the good.
Demands differ from wants in thatA) wants require a plan to acquire a good but demands require no such plan.B) demands are unlimited, whereas wants are limited by income.C) wants imply a decision about which demands to satisfy, while demands involve no specificplan to acquire the good.D) demands reflect a decision about which wants to satisfy and a plan to buy the good, whilewants are unlimited and involve no specific plan to acquire the good.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Demands differ from wants in that
A) wants require a plan to acquire a good but demands require no such plan.
B) demands are unlimited, whereas wants are limited by income.
C) wants imply a decision about which demands to satisfy, while demands involve no specific
plan to acquire the good.
D) demands reflect a decision about which wants to satisfy and a plan to buy the good, while
wants are unlimited and involve no specific plan to acquire the good.
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