Which term describes desires that people have for things they want?

• A. Norms
• B. Wants
• C. Virtues
• D. Values

Answer: (B)

Wants describe desires for goods and services people would like to have. This captures the idea that sometimes we want things beyond what we need to survive, and these desires can vary based on culture, income, and circumstances. Wants help explain why people make choices and prioritize what to acquire when resources are limited.

Norms are about shared expectations for behavior. Values are beliefs about what is important in life. Virtues are positive character traits or moral qualities. Each of these describes a different concept, while wants specifically refer to those personal desires for things one would like to obtain.