18. Which group of words best describes wants?

A limited, changing, and compensating

B. unlimited, changing, and competing

C. limited, unchanging, and competing

D. unlimited, unchanging, and compensating

B. unlimited, changing, and competing

Explanation:

Wants are the desire to have or own goods and services that give satisfaction. A want is a wish to possess something. The wish or desire may be fulfilled or not. Satisfying wants is through the consumption of goods and services. Consumers have an unlimited desire to have goods and services that have high utility value.

Wants differ in different people depending on their culture, age, social status, gender, and several other factors. Satisfying one need is depended on the individual's willingness and ability to pay for the goods or services that satisfy that need. Satisfying wants requires resources. Because human needs have unlimited wants, it is almost impossible to satisfy all wants with limited resources. Due to the scarcity of resources, competition arises to satisfy the many wants with the available resources.