One of the most common concepts in economics is the assumption that consumers have endless wants. The problem is-resources are limited. Consumers and businesses make choices due to resources and scarcity. Often, tradeoffs and choices must be made. Consider the following in relation to wants versus needs as a consumer. Rank six of these in order of the most important to you. Briefly explain why you selected them in that specific order. 1. Telephone 2. Housing/Shelter 3. Transportation car/bus/train/bicycle 4. Food/Water 5. Working part time or full time 6. Education 7. Medical care/healthy living/medicine 8. Pets 9. Clothing 10. Children 11. Family 12. Friends 13. Recreational activities 14. Personal care 15. New technologies