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8 Cards in this Set
- Front
- Back
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Private wants |
Ones which we use individually and take personal responsibility |
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collective wants |
Generally provided by government. Rely on government for roads hospitals and defensive services. Used by community as a whole. Tax generally pays. |
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Complementary wants |
Used together |
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Substantive wants |
Used to replace something else |
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Single use goods |
low costs purchased frequently |
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Semi durable goods |
Purchase less frequently can be more expensive |
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Durable goods |
purchase much less frequently, expected to have very long life can be used over and over |
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Public goods |
Satisfy a large number of community members difficult for individual consumers to provide themselves |
