Which of the Following Statements Regarding People's Wants Is True

question 119

Multiple Choice

Which of the following statements regarding people's wants is true?

• A) Over time, people's wants tend to be stable and constant
• B) As people consume more products, their wants will be reduced
• C) Intangible serves, like tangible goods, may satisfy people's wants
• D) People's wants do not include their basic needs

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Definitions:

Deductible

The amount paid out of pocket by the policyholder before an insurance company pays a claim.

Co-payment

A fixed payment made by a patient for a covered service, under a health insurance plan, at the time the service is provided.

Adverse Selection

A situation where asymmetric information results in high-risk parties being more likely to engage in agreements than low-risk parties.

ISO 9000 Certified

A designation indicating that an organization complies with the standards of quality management and assurance specified by the International Organization for Standardization.