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Answer to Question #124918 in Economics for Ally Ahmed

Question #124918
Differentiate among Needs, Wants and Demand?
1
Expert's answer
2020-07-03T11:03:46-0400

needs- it is something that provides surviving

wants- it is something that people do not need to survive but want to have

Demand- it is all that people want to have (needs+wants). This definition is used in economics and describes consumption.


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