Georgia DECA Advertising Practice Test

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Friendship would be classified as which type of want?

Economic
Noneconomic
Monetary
Cultural

The correct answer is: Noneconomic

Friendship is classified as a noneconomic want because it is not directly related to material goods or financial transactions. Noneconomic wants address the desires that fulfill emotional, social, or psychological needs rather than tangible or monetary requirements. In this context, friendships are based on interpersonal relationships and social connections, which provide companionship, support, and emotional fulfillment. While friendships can sometimes contribute to an individual's economic situation indirectly, such as through networking or support during challenging times, the essence of friendship itself is fundamentally about human connection and emotional well-being. Monetary wants refer to desires for things that have a direct monetary value, which does not apply to friendship. Economic wants pertain to needs directly related to purchasing goods and services, whereas cultural wants involve the desires tied to cultural practices or beliefs. Therefore, classifying friendship as noneconomic highlights its primary role in fulfilling emotional and social needs rather than economic ones.