needs – Knowsia

EIB – JUL 2020 – L1 – Q1 – Basics of Economics: Scarcity and Choice

Explains the fundamental concepts of economics focusing on choice under scarcity, resource allocation in households, definition of necessity, and varieties of human needs and wants.

Question

a. F.conomics is thc stud) ofchoice under whal condition?

b. In the household. horv is thc scarce resources allocated?

c. Deline the term necessity

d. Name any four of the variety of needs and wants of man.

Answer

Find Related Questions by Tags, levels, etc.

Tags: choice, needs, Resource Allocation, scarcity, wants
Level: Level 1

Topic: Price and Output - The Commodity/Industry and the Market
Series: JULY 2020

EIB – OCT 2022 – L1 – Q1 – Needs, Wants, and Economic Systems

Basic concepts of needs, wants, necessities, luxuries, price factors, and economic systems.

Question

(a) In Economics, needs and wants of man are collectively termed what? (4 marks)

(b) Name any four main needs of man. (4 marks)

(d) Name the ONE main factor which determines price. (4 marks)

(e) Define the term economic system. (4 marks) (Total: 20 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Economic System, luxury, Necessity, needs, Price determination, wants
Level: Level 3

Topic: Price and Output - The Commodity/Industry and the Market
Series: OCT 2022

EIB – JUL 2020 – L1 – Q1 – Basics of Economics: Scarcity and Choice

Explains the fundamental concepts of economics focusing on choice under scarcity, resource allocation in households, definition of necessity, and varieties of human needs and wants.

Question

a. F.conomics is thc stud) ofchoice under whal condition?

b. In the household. horv is thc scarce resources allocated?

c. Deline the term necessity

d. Name any four of the variety of needs and wants of man.

Answer

Find Related Questions by Tags, levels, etc.

Tags: choice, needs, Resource Allocation, scarcity, wants
Level: Level 1

Topic: Price and Output - The Commodity/Industry and the Market
Series: JULY 2020

EIB – OCT 2022 – L1 – Q1 – Needs, Wants, and Economic Systems

Basic concepts of needs, wants, necessities, luxuries, price factors, and economic systems.

Question

(a) In Economics, needs and wants of man are collectively termed what? (4 marks)

(b) Name any four main needs of man. (4 marks)

(d) Name the ONE main factor which determines price. (4 marks)

(e) Define the term economic system. (4 marks) (Total: 20 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Economic System, luxury, Necessity, needs, Price determination, wants
Level: Level 3

Topic: Price and Output - The Commodity/Industry and the Market
Series: OCT 2022

Question Tag: needs

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EIB – JUL 2020 – L1 – Q1 – Basics of Economics: Scarcity and Choice

Explains the fundamental concepts of economics focusing on choice under scarcity, resource allocation in households, definition of necessity, and varieties of human needs and wants.

EIB – OCT 2022 – L1 – Q1 – Needs, Wants, and Economic Systems

Basic concepts of needs, wants, necessities, luxuries, price factors, and economic systems.

EIB – JUL 2020 – L1 – Q1 – Basics of Economics: Scarcity and Choice

Explains the fundamental concepts of economics focusing on choice under scarcity, resource allocation in households, definition of necessity, and varieties of human needs and wants.

EIB – OCT 2022 – L1 – Q1 – Needs, Wants, and Economic Systems

Basic concepts of needs, wants, necessities, luxuries, price factors, and economic systems.

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EIB – JUL 2020 – L1 – Q1 – Basics of Economics: Scarcity and Choice

Explains the fundamental concepts of economics focusing on choice under scarcity, resource allocation in households, definition of necessity, and varieties of human needs and wants.

You're reporting an error for "EIB – JUL 2020 – L1 – Q1 – Basics of Economics: Scarcity and Choice"

EIB – OCT 2022 – L1 – Q1 – Needs, Wants, and Economic Systems

Basic concepts of needs, wants, necessities, luxuries, price factors, and economic systems.

You're reporting an error for "EIB – OCT 2022 – L1 – Q1 – Needs, Wants, and Economic Systems"

EIB – JUL 2020 – L1 – Q1 – Basics of Economics: Scarcity and Choice

Explains the fundamental concepts of economics focusing on choice under scarcity, resource allocation in households, definition of necessity, and varieties of human needs and wants.

You're reporting an error for "EIB – JUL 2020 – L1 – Q1 – Basics of Economics: Scarcity and Choice"

EIB – OCT 2022 – L1 – Q1 – Needs, Wants, and Economic Systems

Basic concepts of needs, wants, necessities, luxuries, price factors, and economic systems.

You're reporting an error for "EIB – OCT 2022 – L1 – Q1 – Needs, Wants, and Economic Systems"

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