Economists Speak of Using Resources to Satisfy Wants,not Needs

question 112

Multiple Choice

Economists speak of using resources to satisfy wants,not needs.They do so because

• A)needs are most usefully viewed as wants an individual would give up large amounts of other desirable things to satisfy.
• B)only biologists and psychologists are qualified to talk about human needs.
• C)there are not enough resources to satisfy all wants of everyone in the world but there are enough to satisfy their needs.
• D)people never make choices between their different needs.

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Definitions:

Cohesion

The degree to which members of a group or team are united in pursuing common goals and demonstrate a sense of unity.

Valence

The intrinsic attractiveness or aversiveness of an event, object, or situation.

Group Phenomena

The various dynamic processes and behaviors that emerge when individuals interact within a group setting.

Settlement Houses

Settlement houses are community-based organizations that provide various social services and education to the urban poor, historically significant in the Progressive Era for aiding immigrants and the working class.