Human Needs Characteristics Quiz

What is the main characteristic of human needs?

• Variable

• Fixed

• Unlimited

• Limited

What does the law of diminishing marginal utility depend on?

• Unlimited resources

• Limited desires

• Continuous production of goods

• Satisfaction of particular desires

What does the satisfaction of a particular desire such as hunger lead to?

• End of the desire

• Recurrent need

• Complementary need

• Competing need

What characteristic of needs does the law of marginal utility or the principle of substitution depend on?

• Recurrent nature

• Competing nature

• Complementary nature

• Unlimited nature

What does the concept of elastic demand explain?

• Satisfaction of needs in different ways

• Change in needs with age

• Variation in intensity of needs

• Alternative ways to satisfy a desire

What characteristic of needs explains the variation in importance of different needs?

• Competing nature

• Variation in intensity

• Variation by person, age, place, and time

• Complementary nature

What is the human instinct regarding present needs and future needs?

• Both are equally important

• None of the above

• Present needs are more important

• Future needs are more important

What affects human needs according to the text?

• Social customs

• Political environment

• Personal preferences

• Economic conditions

What is the main reason for continuous economic progress in the world?

• Satisfaction of all needs

• Unlimited desires

• Limited resources

• Decrease in human needs

What characteristic of needs explains the need for continuous production of different goods and services?

• Variation in intensity

• Complementary nature

• Competing nature

• Recurrent nature