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Question
economics is the study of decisions people make to meet needs and wants. needs are things that you must have to live or stay healthy and safe. wants are things that you would like to have. below are some decisions that janet has made today. decide whether each one is meant to satisfy a need or a want. janet eats a cookie because it tastes good. janet drinks a glass of water because she is thirsty. janet schedules a doctors appointment to get medicine because she is sick. janet spends some extra money to buy a ticket to a concert.
Eating a cookie for taste is a want as it's not essential for survival or health. Drinking water when thirsty is a need as water is crucial for bodily - function. Scheduling a doctor's appointment when sick to get medicine is a need for health. Buying a concert ticket with extra money is a want as it's for entertainment, not a necessity.
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Janet eats a cookie because it tastes good. - Want
Janet drinks a glass of water because she is thirsty. - Need
Janet schedules a doctor's appointment to get medicine because she is sick. - Need
Janet spends some extra money to buy a ticket to a concert. - Want