Examlex

Solved

Which of the Following Is an Example of a Want

question 83

Multiple Choice

Which of the following is an example of a want?


Definitions:

Shift Outward

An economic term referring to the expansion of a production possibility frontier, indicating an increase in an economy's capacity to produce.

Budget Lines

Graphical representations of all possible combinations of two goods that a consumer can afford given their income and the prices of the goods.

Indifference Curves

Graphical representations in microeconomics showing different bundles of goods between which a consumer is indifferent.

Linear

A relationship or function that can be graphically represented in two dimensions by a straight line.

Related Questions