Demands differ from wants in that

Question

ObjectiveMcq · Accepted Answer

demands reflect a decision about which wants to satisfy and a plan to buy the good, while wants are unlimited and involve no specific plan to acquire the good.

ObjectiveMcq · Answer

wants require a plan to acquire a good but demands require no such plan.

ObjectiveMcq · Answer

demands are unlimited, whereas wants are limited by income.

ObjectiveMcq · Answer

wants imply a decision about which demands to satisfy, while demands involve no specific plan to acquire the good.