economic wants

Definition

The human motives that induce the business and economic activities which produce the desired goods and services, or the means to acquire them.

Use economic wants in a sentence

  • One must balance their economic wants and their primary needs, as buying too many things out of budget can cause a massive debt to accumulate quickly.

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  • So many people in my community wanted new sports cars, so the car dealership brought in several Mustang convertibles to satisfy their economic wants.

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  • Innovation is, at least in part, driven by the economic wants of the society that the innovator is a part of.

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