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Question

Wants that are related to consumption of goods and services is:

A
Economic wants
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B
Non economic wants
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C
Economics
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D
All of the above
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Solution

The correct option is A Economic wants
Economic wants refer to the wants that are related to the satisfaction of own need by the way of consumption or profit earning. We fulfill these kind of wants through exchange mechanism, i.e., exchange of goods for profit.

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