A South Indian wanting dosa and a North Indian wanting chapatti for the same hunger shows that wants are:
APriced by markets
BSet by government
CCulturally defined
DBiologically fixed
Answer & Solution
Correct answer: C. Culturally defined
1. The need for food is the same.
2. Culture, personality and religion shape wants.
3. So wants are culturally defined.
_Source: NCERT Class 12 Business Studies Part II, Chapter 11, Marketing._
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