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Chapter 8 Building Blocks in Economics the Problem of Choice - Part 1

Why can the distinction between needs and wants sometimes vary?

Type: MCQ • Marks: 1
Why can the distinction between needs and wants sometimes vary?
Options
A. Everyone has identical requirements
B. Circumstances and living conditions differ
C. Wants never change
D. Needs have no social context
Explanation
Explanation: What is essential in one situation may be less essential in another.
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