Social Sciences, asked by avish67, 4 months ago

the need to consume more and more products regardless of needs is called​

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Answered by avishishukla
2

Answer:

necessity goods

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Answered by mamtasati2014
2

Necessity goods are products and services that consumers will buy regardless of the changes in their income levels, therefore making these products less sensitive to income change. ... If income elasticity of demand is lower than unity, it is a necessity good.
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