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When people use their ability to satisfy needs and wants, they engage in decision-making that reflects their priorities and values. This process often involves assessing available resources and making trade-offs, as fulfilling one need or want may require sacrificing another. Such choices are influenced by individual circumstances, cultural factors, and economic conditions, ultimately shaping personal and societal well-being. This ability is fundamental to human behavior and economic activity, driving consumption, production, and overall quality of life.
What else can I help you with?
What is an economic security?
Being Secure in your ability to satisfy your needs and wants ( having enough Money!)
What are three basic economic activities?
Thee basic economic activities are; production- is any activity design to satisfy people's wants. consumption- is using up of goods and services to satisfy our wants. exchange- people can satisfy some of their wants by producing some goods and services themselves.
People must make choices to satisfy their needs and wants?
Economic
A nation will never have enough resources to satisfy the wants and needs of the people.?
true
What is the study of how people manage their limited resources to satisfy their wants and needs?
economics
What is the aim of production?
satisfy people's wants
What is an economic security?
Being Secure in your ability to satisfy your needs and wants ( having enough Money!)
What are three basic economic activities?
Thee basic economic activities are; production- is any activity design to satisfy people's wants. consumption- is using up of goods and services to satisfy our wants. exchange- people can satisfy some of their wants by producing some goods and services themselves.
People must make choices to satisfy their needs and wants?
Economic
What is the study of how people use their limited resources to satisfy their unlimited wants?
Economics.
A nation will never have enough resources to satisfy the wants and needs of the people.?
true
What is the study of how people manage their limited resources to satisfy their wants and needs?
economics
The study of the choices people make in an effort to satisfy their wants and needs is called?
economics
Economic products designed to satisfy people's wants and needs are called?
economic system
Which subjects studies the choices people make in an effort to satisfy their wants and needs?
Economics.
Does consumer goods satisfy wants directly while capital goods satisfy wants indirectly?
That is correct.
What is the way people use resources to meet their wants and needs?
The way a nation determines how to use its resources to satisfy its people's needs and wants is called:
