In economics, all the items that people would consume if they had unlimited income are known as?

Wants are the items that people would consume if they had unlimited income. Wants are the items that the person requires but does not have the purchasing power to buy the items. Wants are unlimited as the person may want many things. The means are only limited. Means means the income to buy those wants. So if income is made unlimited then the wants of the person will be satisfied.

The needs of the person are required to be satisfied for the person to live. The wants of the person have to be satisfied if the person wants to live a comfortable life. So the wants are not necessary for the persons to have but the person still wants to have those goods for many reasons. So if the person had unlimited income these wants of the person can be satisfied.

All items that a person would like to consume are called wants. If the person had unlimited income these wants will be satisfied.