wants definition of economic
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Economics is a social science concerned with the production, distribution, and consumption of goods and services. ... Economics can generally be broken down into macroeconomics, which concentrates on the behavior of the aggregate economy, and microeconomics, which focuses on individual consumers and businesses.
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Economic wants are desires that can be satisfied by consuming a good, service, or leisure activity.
Explanation:
Because people have differing economic wants, they purchase a wide variety of goods and services or choose to "consume" differing amounts of leisure time.
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