VCEBR001
Describe the difference between needs and wants and explain why choices need to be made
Elaborations
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listing all the items individuals would like to have and categorising these items as a need or a want
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explaining why individuals cannot have all the items they want and therefore must make a choice (scarcity)
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discussing whether one person’s need is another person’s need or want
VCEBR001 | The Humanities | Economics and Business | Levels 5 and 6 | Resource Allocation and Making Choices
