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In economics, needs are typically defined as essential items required for survival and basic functioning, such as food, water, shelter, and healthcare. In contrast, items such as luxury goods, entertainment, or non-essential services are not considered needs. These are classified as wants, which enhance quality of life but are not necessary for survival. Thus, any item that falls into the category of luxury or non-essential is not considered a need in economic terms.
What else can I help you with?
Can economics be consider a science?
Yes, economics can be considered a science.
Why is economics considered as a science?
Because it follows strict systematic and practical methods
Why are Entrepreneurs considered the driving force in economics?
Hb
Select the items below that descive rational behavior in economics?
It is a key assumption used in the study of economics and the choices that people make in pursuit of satisfaction.
Which one is better to take Bsc Economics OR BBA Hons?
BSc economics is better than BBA due to Governmental prestige considered in Bsc economics but not in BBA.
Which of these items is not considered by economists to be a needa mealsheltera coata book?
Which of these items is not considered by economists to be a need? a meal shelter a coat a book
Can economics be consider a science?
Yes, economics can be considered a science.
Why is economics considered as a science?
Because it follows strict systematic and practical methods
Ask us anythingWhich of these items is not considered by economists to be a need?
Automobiles. A+
What do you need to major in to become an editor?
The following subjects are widely considered useful for aspiring journalists: * English Literature * Economics * Journalism
What is considered to be the king of the social sciences?
economics
Which of these is considered to be the king of the social sciences-?
Economics is considered to be the king of social sciences.
Why are Entrepreneurs considered the driving force in economics?
Hb
What is the definition of Building Economics?
building economics is considered as an irrelevant subjectcin the construction industry. justify the statement above
How research useful in the economics?
Research is useful in economics to know the need of the consumer.
Select the items below that descive rational behavior in economics?
It is a key assumption used in the study of economics and the choices that people make in pursuit of satisfaction.
Which one is better to take Bsc Economics OR BBA Hons?
BSc economics is better than BBA due to Governmental prestige considered in Bsc economics but not in BBA.
