From the economist's point of view
A) wants and needs are exactly the same.
B) a want is a lifesaving necessity.
C) needs are objectively undefinable.
D) we all have wants but only very poor people have needs.

Question

Quizplus · Accepted Answer

Economists often distinguish between 'wants' and 'needs' based on the idea that wants are desires for goods and services we would like to have but do not require for survival, whereas needs are essential for basic human survival. However, defining what constitutes a need can be subjective and vary across different societies and individuals, making needs "objectively undefinable" in a strict sense.

From the Economist's Point of View