Question

"Wants" as an economic concept includes only goods and services that consumers need but cannot afford to buy. both material and nonmaterial desires. only the desire for luxury goods. only the purchase of necessary basic goods.

Answer 1

Answer:

The correct answer is letter "B":  both material and non-material desires.

Explanation:

Individual wants represent desires humans have to fulfill certain needs, some of them are necessary and some others are not. Wants could be material such as clothing or a new car but they could be non-material -intangible- such as listening to classical music or getting more knowledge over a specific topic.