Reasons for making choices between competing wants

Reasons for making choices between competing wants

  • Limited resources to meet the needs
  • They are complementary i.e. if you satisfy one, it leads to need of the other
  • Some human wants recur
  • They are insatiable i.e. can not be satisfied fully
  • They keep on changing with age, education level
  • They are competitive
  • Different prices of goods




competing wants


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