ECONOMICS
OPPORTUNITY COST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Need
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Want
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Good
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Service
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Detailed explanation-1: -We must have food, water, air, and shelter to survive. If any one of these basic needs is not met, then humans cannot survive.
Detailed explanation-2: -Food, water, clothing, sleep, and shelter are the bare necessities for anyone’s survival. For many people, these basic needs can not be met without the aid of charitable organizations.
Detailed explanation-3: -The truth is, there are only five basic needs; Clean Air, Water, Nutrients, Shelter and Sleep.
Detailed explanation-4: -These include food, water, clothing, shelter, etc. And then there are necessaries that improve our efficiency and well being like comfortable housing, nourishing foods, etc.
Detailed explanation-5: -The basic needs approach is one of the major approaches to the measurement of absolute poverty in developing countries globally. It works to define the absolute minimum resources necessary for long-term physical well-being, usually in terms of consumption goods.