tacom

According to the text, what is one of the main characteristics of human needs?

• Limited

• Unlimited

• Complementary

• Recurrent

What does the law of diminishing marginal utility depend on?

• The satisfaction of a particular desire

• The availability of resources

• The intensity of needs

• The law of substitution

How are human needs affected by advertising according to the text?

• They are influenced by clever advertisements

• They are influenced by social customs

• They are influenced by personal taste

• They are not affected

What characteristic of needs explains how much a man consumes and saves from his income?

• Needs vary in intensity

• Needs are unlimited

• Present needs are more important than future

• Needs are affected by social customs

What is the concept of elastic demand explained with the help of according to the text?

• Needs vary in intensity

• Needs can be satisfied in alternative ways

• Needs are complementary

• Needs vary by person, age, place, and time

What does the law of marginal utility or the principle of substitution depend on?

• The law of diminishing marginal utility

• The satisfaction of a particular desire

• The availability of resources

• The intensity of needs

What is one reason why interest is paid according to the text?

• Because present needs are more important than future

• Because needs are affected by advertising

• Because needs are complementary

• Because needs are unlimited

How do needs vary by person, age, place, and time according to the text?

• They are complementary

• They are affected by social customs

• They differ from person to person

• They are unlimited

What is the main reason for the continuous economic progress in the world according to the text?

• Because needs compete with each other

• Because needs are complementary

• Because needs are recurrent

• Because needs are unlimited

What does the law of marginal utility depend on according to the text?

• The law of substitution

• The intensity of needs

• The availability of resources

• The satisfaction of a particular desire