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प्रश्न
Why do you think people’s wants keep changing over time? How does this affect production in an economy? Why cannot all our wants be satisfied?
दीर्घउत्तर
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उत्तर
People’s wants keep changing because of changes in lifestyle, technology, income, tastes and social trends. As new wants arise, producers change their production according to consumer demand, leading to the development of new goods and services. However, all our wants cannot be satisfied because resources such as money, time, labour and natural resources are limited, while human wants are unlimited. Therefore, people and economies must make choices and set priorities.
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