WAEC Marketing 2025 Theory — Question 15

Question 15 of 16 from the West African Examinations Council (WAEC) Marketing 2025 Theory paper, with the correct answer and a full explanation.

6(a) Explain the following marketing terms: (i) supply (ii) wants

Model answer

Supply: the quantity of goods a producer is willing and able to offer for sale at a given period of time. Wants: the desires of consumers for goods and services that satisfy an additional (non-basic/luxury) need.

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