Why economists prefer-speak of demands arising out of wants
Why do economists prefer to speak of demands arising out of "wants" rather than "needs"? Explain why economist considers the concept of utility useful, even if psychologists cannot measure it precisely.
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Tudor Company acquired $500,000 of Carr Corporation bonds for $487,706.69 on January 1, 2013. The bonds carry an 11% stated interest rate, pay interest semiannually on January 1 and July 1, were issued to yield 12% and are due January 1, 2016.
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Why economists prefer to speak of demands arising out of "wants" rather than "needs"? Describe why economist considers concept of utility useful.
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Why does law of diminishing marginal utility motivate people to spread the spending across many different types of goods?
Carl has a fixed monthly cost of $257,000 and delivers 3.3 million packages in the same time period of a price of $3.24.
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