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WAEC Economics 2014 Question 6

Question 6

Basic Concepts

Households make economic decisions because they want to

  1. A.make more profit.
  2. B.increase their salaries and wages.
  3. C.increase their purchases.
  4. D.maximize their satisfaction.
Show the answer and explanation

Answer: D (maximize their satisfaction.)

Explanation

Households aim to get the most satisfaction from their limited income.