Which one of the following statements regarding wants, needs and demand is incorrect? O A. Michelle's wants are never satisfied, if she buys something, there is always something else she also wants.. O B. Mpho has a demand for Rolex watches, even though she cannot afford them, she likes them very much. O C. Molly has a demand for soft drinks, she likes the taste and can afford to buy it O D. Mike is lost in the jungle, he has a need for water and food, otherwise he might die.
Which one of the following statements regarding wants, needs and demand is incorrect? O A. Michelle's wants are never satisfied, if she buys something, there is always something else she also wants.. O B. Mpho has a demand for Rolex watches, even though she cannot afford them, she likes them very much. O C. Molly has a demand for soft drinks, she likes the taste and can afford to buy it O D. Mike is lost in the jungle, he has a need for water and food, otherwise he might die.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Which is the correct option to choose
![Which one of the following statements regarding wants, needs and demand is incorrect?
O A. Michelle's wants are never satisfied, if she buys something, there is always something else she
also wants..
O B. Mpho has a demand for Rolex watches, even though she cannot afford them, she likes them
very much.
O C. Molly has a demand for soft drinks, she likes the taste and can afford to buy it
O D. Mike is lost in the jungle, he has a need for water and food, otherwise he might die.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4656dfa0-3ee2-4cd9-aa77-3f76df9accef%2F74b94576-c08d-4f15-a88b-fb265a1ed8bd%2Fy178dw_processed.png&w=3840&q=75)
Transcribed Image Text:Which one of the following statements regarding wants, needs and demand is incorrect?
O A. Michelle's wants are never satisfied, if she buys something, there is always something else she
also wants..
O B. Mpho has a demand for Rolex watches, even though she cannot afford them, she likes them
very much.
O C. Molly has a demand for soft drinks, she likes the taste and can afford to buy it
O D. Mike is lost in the jungle, he has a need for water and food, otherwise he might die.
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