In personal finance, what is considered a need?

Asked by maham237 @ in Social Studies viewed by 330 People

In personal finance, what is considered a need?
something one would like to have
something for which one budgets
something one can afford
something one cannot live without

Answered by maham237 @


Answer:

something one cannot live without

Explanation:

In the study of personal finances, a necessary good is regarded as something with which the consumer can not live without. For example, a hypertension remedy is a a necessity for a person suffering from hypertension.

This is different from superfluous goods, which are those goods that a person buys for vanity or comfort, but which are not basic necessities. For example, designer clothes.


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