Skibidi's prophet Mohammed duggal masiha Murgh Musalla

What is a need?

• Need is something that you desire and wish to have.

• Need is something that is required for survival.

• An example of need is Macbook.

• Need is something that isn't essential for survival.

Difference between need and want

• Desire vs. Survival

• Survival vs. Desire

Your family bought a brand new mansion.

• Good

• Service

• Need

• Want

You get your pedicure done at the salon.

• Service

• Good

• Need

• Want

You purchase a video game to give it to your friend as a birthday gift.

• Need

• Good

• Service

• Want

Select consumer goods.

• Vehicles

• Shoes

Select Capital Goods

• Tools

• Tractor

• Building

• TV set

Which words means similiar to scarcity?

• Dearth

• Paucity

• Abundance

• Meagre

If you have to choose between Macbook and iPhone 13, which one would you pick?

• Macbook

• iPhone 13

If you choose Macbook over iPhone 13, what is your opportunity cost?

• iPhone 13

• Macbook