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Question Practice

Why is it important to differentiate between needs and wants in income management?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Home Science
Human Ecology and Family Sciences - II
Financial Management and Planning
Question Bank

Why is it important to differe...

Single Answer MCQ
Q-00108344

Why is it important to differentiate between needs and wants in income management?

1

To simplify budgeting

2

To ensure all expenses are covered

3

To prioritize essential expenses over non-essential

4

To have more fun with money

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