Why do economists prefer to speak of demands arising out of wants rather than needs?

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Why do economists prefer to speak of demands arising out of "wants" rather than "needs"?

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Principles of Economics

ISBN: 978-0073511405

5th edition

Authors: Robert Frank, Ben Bernanke

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Question Posted: Dec 12, 2015 04:27 AM

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Why do economists prefer to speak of demands arising out of wants rather than needs?

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To say that someone needs a good is to suggest t...View the full answer

Principles of Economics

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