Economics

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I am given four pictures and I am asked to determine which are needs and which are wants. They are:

-An airplane
-A plate of breakfast(eggs, toast, beacon)
-A child's bed
-A sports car

I think:

airplane= want
plate of breakfast= need
Child's bed= need
sports car = want

Are these answer right? Thanks

  • Economics -

    I agree with you.

    It's interesting, though, that in some regions, all of them would be wants. Breakfasts wouldn't be so substantial, and children might not have beds as we know them.

  • Economics -

    If Redstone wanted to minimize average total cost, it would produce how many units?

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