BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS ECONOMICS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Seeing a movie at a theater would be considered a(n) ____ want.
A
unlimited
B
limited
C
economic
D
noneconomic
Explanation: 

Detailed explanation-1: -Examples of economic services Programs might include job search training, skill training and educational services.

Detailed explanation-2: -The correct answer to the given question is option c. the total cash expenditure needed to go to the movie plus the value of your time. The opportunity cost of going a movie is the net benefit associated with the next best alternative forsaken by choosing to go for the movie.

Detailed explanation-3: -We can classify wants into three broad categories in economics. These are Necessaries, Comforts, and Luxuries.

Detailed explanation-4: -Explain why wants are considered unlimited, changing, and competing. We must choose what will satisfy us the most at one time, and those wants can change depending on the situation.

There is 1 question to complete.