When The Economist Says That Economic Wants Are Insatiable, This Means That?


5 Answers

tina patrick Profile
tina patrick answered
Are wants insatiable
Karl Sagan Profile
Karl Sagan answered

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Sophie Carroll Profile
Sophie Carroll answered

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Sergio Jemas Profile
Sergio Jemas answered

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Anonymous Profile
Anonymous answered
Very basically, in a nutshell, that Goods are good, i.e that because you like money\ice cream, you would like more of it and as much as you can, and that Bads are Bad, that you would want less of it. They often take this simple assumption as a benchmark for more advanced mathematical models of consumption behaviour.

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