Define Needs and Wants

question 229

Essay

Define needs and wants. Can marketing shape a person's wants? Explain your answer.

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Definitions:

Irreversible State

A condition or situation that cannot be returned to its original state, often used in the context of environmental damage, medical conditions, or irreversible processes.

Manufacturer's Liability

The legal responsibility of manufacturers for any harm caused by defects in their products, regardless of negligence.

Breach of Contract

The failure to perform as specified in a contract without lawful excuse, which can give rise to legal action for damages or specific performance.

Emotional Distress

A legal term for the mental anguish or suffering one may experience as a result of another's actions or negligence.