Future Business Leaders of America (FBLA) Agribusiness Practice Test

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Enhance your FBLA Agribusiness knowledge with our comprehensive test. Dive into flashcards and multiple-choice questions, complete with hints and explanations, to ensure exam success. Prepare confidently for a bright future!

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Which of the following is an example of a 'need' in economic terms?

Smartphone
Food
Luxury car
Designer clothing

The correct answer is: Food

In economic terms, a 'need' refers to something that is essential for survival and basic functioning. Food is a fundamental necessity as it is required for nourishment and sustenance. Without food, individuals cannot maintain their health and overall well-being, making it a primary example of a need. In contrast, the other options represent items that fall into the category of 'wants' rather than 'needs.' A smartphone, luxury car, and designer clothing are not essential for survival; instead, they enhance lifestyle or provide comfort and status but are not critical for basic human functioning. This distinction emphasizes the core concept of needs versus wants in economic discussions.