How Do Marketers Distinguish Between a Need and a Want

question 132

Essay

How do marketers distinguish between a need and a want?

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Definitions:

Money Supply

The overall count of money resources within an economy at a pinpointed moment, incorporating physical currency as well as balances in savings and checking accounts.

Natural Rate of Unemployment

The unemployment rate that arises from all sources except fluctuations in the overall demand for goods and services.

Aggregate Demand Curve

A graphical representation showing the total demand for goods and services in an economy at various price levels, generally illustrating an inverse relationship between the price level and the quantity of output demanded.

Long-Run Aggregate Supply Curve

A graphical representation showing an economy's productive capacity and output when all resources are fully employed, assuming no fixed factors of production.