Wants

question 111

Multiple Choice

Wants

• A) is another term for needs.
• B) refer to services while needs refer to goods.
• C) is the term used by economists instead of needs because needs are not objectively definable.
• D) are used by economists and refer to the same thing as needs when used by psychologists.

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Definitions:

Shared Service Units

Divisions within a company that provide services to multiple departments, improving efficiency and reducing costs.

Cost Centre

A segment of an organization where costs can be accumulated, but which does not directly generate revenue.

Standardised Services

Services that are provided in a consistent manner every time, ensuring uniform quality and experience across all service points.

Profit and Loss Statement

A financial statement that summarizes the revenues, costs, and expenses incurred during a specific period of time, usually a fiscal quarter or year.