From the economist\'s point of view We all have wants but only very poor people

Question

From the economist's point of view We all have wants but only very poor people have needs. needs are objectively undefinable. a want is lifesaving neccesity. wants and needs are exactly the same. Suppose you observe that the piece of agood increases and that the quantity of this good sold also increases. If only the demand curve or the supply curve shifts this suggests that supply demand over time while demand remained the same. demand increased over time while supply remaind the same. supply increased overtime while demand remained the same. demand decreased over the time while supply remained the same._______ are the things that are used to produce items that satisfy people's wants. Production possibilties curve. Costs Resources Concepts In the above graph, an inverse relationship is shown by Graph A Graph B Graph C Graph D

Explanation / Answer

(24) The correct answer is option (A). From the economist’s point of view, we all have wants but only very poor people have needs.

(25) The correct answer is option (C). The supply increased over time while demand remained the same.

(26) The correct answer is option (C). Resources are the things that are used to produce items that satisfy people's wants.

(27) The correct answer is option (B) which is Graph B.

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