Examlex
What is the definition of the following term:
-necessary condition:
Unlimited Wants
The economic concept that human desires and needs are infinite and vary in intensity, contrasting with limited available resources.
Normative
In economics and philosophy, refers to statements or propositions that express values, ethics, or moral prescriptions, indicating how things ought to be.
Positive
Characterized by or indicating the presence or affirmative action of a feature, condition, or outcome.
Tax
A mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.
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