What is the difference between needs and wants?
Basic Concepts in Economics Quiz

Quiz
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Social Studies
•
Professional Development
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Medium
Jomar Hilario
Used 3+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Needs are essential for survival, while wants are desires for pleasure and happiness
Needs are desires for pleasure and happiness, while wants are essential for survival
Needs and wants are the same thing
None of the above
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When does something that you want become a need or vice versa?
When it becomes essential for survival
When it becomes a desire for pleasure and happiness
When it is no longer available
None of the above
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the reason why you and your classmate may have different answers on the definition of needs and wants?
Different personal preferences
Different cultural backgrounds
Different economic situations
All of the above
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the highest level of human needs according to Maslow's Theory of Hierarchy of Needs?
Physiological needs
Safety needs
Love and belongingness needs
Self-actualization needs
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the positive effect of fulfilling the need for love and belongingness?
Increased self-confidence
Decreased loneliness
Improved job security
Enhanced physiological security
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Is it possible to reach the second up to the fifth level without passing the first level?
Yes, it is possible
No, it is not possible
It depends on the individual
None of the above
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
As a student, do you think you can reach the highest level of Maslow's Hierarchy of Needs?
Yes, as long as I work hard
No, it is not achievable for students
It depends on the individual's goals and aspirations
None of the above
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