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Author Question: A demand schedule provides A) the quantities of a good people are willing to sell every year. B) ... (Read 31 times)

tiffannnnyyyyyy

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on: Jun 29, 2018
A demand schedule provides
 
  A) the quantities of a good people are willing to sell every year.
  B) the amount of a good a person wants to sell during a given time period.
  C) the alternative quantities demanded for a given time period at different possible prices.
  D) the amount of a good a person wants at different times of the day.

Question 2

Explain the difference between human needs and wants.
 
  What will be an ideal response?


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mathjasmine

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

Needs are objectively undefinable. Needs are the essentials of life: food, clothing, water and shelter. They are basics of life you can't live without. Needs are things you have to have, items you can't do without. Wants are things you desire to increase your level of happiness. They are not absolutely necessary. Humans have unlimited wants, and so they cannot have all of them given limited resources.


tiffannnnyyyyyy

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Reply #2 on: Jun 29, 2018
Thank you


mathjasmine

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Reply #3 on: Jun 29, 2018
No problemo


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