Which of the following is a characteristic of human wants in terms of economics?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Wants are satiable.
Human wants or desires are limitless and cannot all be satiated at once, but one want is satisfiable.
- If one strives for it and has the means to do so, it can be satisfied sooner rather than later.
- One might experience hunger or thirst, for instance. Taking some food or water may satisfy this desire.