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The desire to have a commodity or service is called Want Utility Goods None of these

Question

The desire to have a commodity or service is called

  • Want
  • Utility
  • Goods
  • None of these
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Solution

The correct term for the desire to have a commodity or service is Want.

Explanation:

  1. Want refers to the human desire for goods or services that are not necessary for survival but can enhance quality of life.
  2. Utility represents the satisfaction or benefit derived from consuming a good or service.
  3. Goods are tangible products that can be purchased.
  4. None of these does not apply as the correct term is present.

In conclusion, among the options provided, the term that best describes the desire to have a commodity or service is "Want."

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