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Earn +20 ptsQ: What is the distinction between economic wants and economic needs?
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Continue Learning about Economics
What is a link between economic wants and preferences?
A link between economic wants and preferences is always the basic needs that are essential for our daily life. Preferences can be made after defining the economic wants and basic needs of the people involved.
What is a major similarity between economic wants and economic needs?
People try to fulfill both with limited resources.
Economic products designed to satisfy people's wants and needs are called?
economic system
People must make choices to satisfy their needs and wants?
Economic
What are the economic functions of the family?
the economic function of the family is the things that the family members wants, their needs and how much they have to get it.
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