Social Studies
Social Studies, 17.12.2019 05:31, Dede6308

Why do economists avoid making the distinction between wants and needs?

a. every individual has exactly the same set of needs. economists consider individual wants because they differ from one individual to another.
b. the term need is subjective making it difficult to distinguish between something someone wants and something they need.
c. individual needs do not exist so it is necessary to only consider individuals' wants.
d. individual wants are limited making it easier for economists to address this concept.

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Why do economists avoid making the distinction between wants and needs?

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