Which of the following statements about wants and needs is true?
All of the following statements about wants and needs may be true:
1. Wants are desires or preferences for goods or services that are not essential for survival, while needs are essential requirements for survival, such as food, shelter, and clothing.
2. Wants can vary among individuals and are influenced by cultural, social, and personal factors, while needs are generally universal and consistent across different populations.
3. Wants are often influenced by marketing and advertising, which create a sense of desire or urgency for certain products or experiences, while needs exist irrespective of external influences.
4. Wants can change over time as individuals' preferences, priorities, and circumstances evolve, while needs remain relatively stable.
5. Determining wants and needs can be subjective and depend on individual perspectives, values, and circumstances. For instance, some may consider internet access as a need for work or education, while others may view it as a want or luxury.