Human Wants

question 76

Multiple Choice

Human wants:

• A) are unfilled only in the poorer countries of the world.
• B) can be completely satisfied by advancing technology.
• C) can never be fully satisfied.
• D) only apply to necessities.

---

Definitions:

Circular Flow

An economic model that depicts how money and goods flow through the economy in a continuous loop between households and firms.

Profits

The financial gain obtained when the revenues generated from business activities exceed the expenses and costs incurred in operating the business.

Producing Units

Entities, either facilities or machinery, involved in the production process to manufacture goods or services.

Economy

The system of production, distribution, and consumption of goods and services in a particular geographic region or country.