ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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to satisfy their basic needs and wants
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to keep up with social trends
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because businesses use marketing to make them
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to keep the economy afloat
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Detailed explanation-1: -Consumers satisfy their wants through purchasing goods and services for consumption purposes.
Detailed explanation-2: -People purchase goods and services to get some benefit or satisfaction. This allows them to fulfill a need or want when they consume it. This phenomenon is called economic utility.
Detailed explanation-3: -In short, needs are things that satisfy the basic requirement. Wants are requests directed to specific types of items. Demands are requests for specific products that the buyer is willing to and able to pay for.
Detailed explanation-4: -Consumers are defined as individuals or businesses that consume or use goods and services. Customers are the purchasers within the economy that buy goods and services, and they can exist as consumers or alone as customers.