Quiz: Needs vs Wants in Economics
OCR H460 A-Level Economics
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Building on what you've learned about economic goods, the basic economic problem, and normative vs positive statements, let's test your knowledge of needs vs wants in economics!
Which of the following is an example of a need?
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Which of the following are examples of wants? (Select all that apply)
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Needs are essential for {{blank0}}, while wants are {{blank1}} that improve quality of life.
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Match the items on the left with their correct pairs on the right
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Why is the distinction between needs and wants important in economics?
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If a family has £500 to spend on their needs and wants, and £300 is spent on needs, how much money is left for wants?
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Which of the following factors can influence whether something is considered a need or a want? (Select all that apply)
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Economic agents must make choices because resources are {{blank0}} but {{blank1}} are unlimited.
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Match the items on the left with their correct pairs on the right
Which of the following is most likely to be classified as a need?
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