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Business Data Management · Quiz 1 · 19 Jul 2026 · May 2026 term

Question 11: Which of the following correctly distinguishes 'wants' f…

Question 11

+2 marksOne correct option

Which of the following correctly distinguishes 'wants' from 'desire' in economics?

  1. A

    Wants are unlimited; desires are limited

  2. B

    Wants enhance quality of life while desire is constrained by affordability — a person may desire something but lack the purchasing power to demand it

  3. C

    Desire is always backed by purchasing power; wants are not

  4. D

    Wants and desires are interchangeable terms in economics

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Correct answer

  • B

    Wants enhance quality of life while desire is constrained by affordability — a person may desire something but lack the purchasing power to demand it

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Question 11 of 23 in the IIT Madras BS Business Data Management (BDM) Quiz 1 paper sat on 19 Jul 2026, in the May 2026 term (Business Data Management 16 Jul 26). It carries 2 marks.

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