Epicurus Distinguished Between Three Types of Needs

question 48

Multiple Choice

Epicurus distinguished between three types of needs. The first type involved natural and necessary for survival desires. The second type contained natural, but nonnecessary, desires. What was the third type?

• A) "beautiful" or "artistic" desires
• B) violent and aggressive desires
• C) creativity
• D) "vain" or "empty" desires
• E) unusual desires, perversions

Discuss the economic effects of government policies such as taxes, price ceilings, and price floors on market equilibrium.

Understand the economic principles behind federal student loans and their impact on higher education.

Analyze alternative strategies to subsidize higher education without relying solely on student loans.

Evaluate the role of government policy in shaping the supply and demand for higher education.

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Definitions:

Fiscal Year

A one-year period used for accounting and financial reporting purposes, which may or may not align with the calendar year.

Discounted Note

A promissory note or loan that is sold or issued at a price lower than its face value, with the difference serving as interest earned by the lender.

Interest Charged

The cost incurred by borrowing money, calculated as a percentage of the principal amount loaned.

Discounted Note

A financial instrument representing a promise to pay, which is sold for less than its face value before maturity.