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In Economics, a "want" is considered an economic want only if it is:
AStrong enough to drive consumption
BAchievable AND covered by purchasing power
CExpressed verbally to a vendor
DListed in the budget
Answer & Solution
Correct answer: B. Achievable AND covered by purchasing power
1. Per OCR: "The desires, which are achievable and are covered by purchasing power, are economic wants."
2. Wanting to go to the moon = not an economic want (no purchasing power).
3. Economic wants drive economic activity.
_Source: ICMAI BoS CMA Foundation Paper 4 (FBEM) — Paper4_07042026.pdf, Module 1 §1.1 (page 11)_
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