BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Friendship would be considered a(n) ____ want.
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economic
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limited
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noneconomic
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unlimited
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Explanation:
Detailed explanation-1: -Non-Economic wants are those which do not require a monetary payment. This could be love, affection, etc. Collective wants are those which are desired by many people.
Detailed explanation-2: -The economic resources are land, labor, capital, and entrepreneurial ability. Land resources are natural resources.
Detailed explanation-3: -We can classify wants into three broad categories in economics. These are Necessaries, Comforts, and Luxuries.
Detailed explanation-4: -Examples of economic services Programs might include job search training, skill training and educational services.
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