The first thing you need to learn about economics is acknowledging and describing the difference between a need and a want. You might thing it is easy to learn, but you’re wrong. Statistics show that two out of three high school graduates failed a simple need and want quiz. So what are needs and wants?
A need is something you have to have, something you can’t live without. An example of a need is food. We all need food to survive. It is essential in our lives to eat. If we didn’t have food
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