Which of the Following Is an "Economic Need

question 237

Multiple Choice

Which of the following is an "economic need"?

• A) Desire for self-satisfaction and convenience.
• B) Desire for efficiency in the use of the consumer's money.
• C) Desire for efficiency in the use of the consumer's time and money.
• D) Desire for prestige and paying a high price for the best quality.
• E) Desire for status and paying a high price for the best quality.

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Definitions:

Basketball Games

Competitive sports events involving two teams whose goal is to score points by throwing a ball through the opposing team's basketball hoop.

Entrance Fee

The amount of money charged for gaining access to a service, facility, or event.

Amusement Park

A large outdoor area with rides, games, and shows designed to entertain people of all ages.

Price Discrimination

An approach to pricing in which a single provider sells almost identical goods or services at varying prices across different markets.