Economic needs refer to the buyer's need to behave in an economically rational manner and buy the lowest priced item available.

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Viknes Munusamy · Accepted Answer

Final Answer : False, Explanation :  Economic needs refer to the necessities required for a consumer to maintain their standard of living, including affordability, but also encompass value, quality, and efficiency, not just the lowest price.

Economic needs refer to the buyer's need to behave in an economically rational manner and buy the lowest priced item available.

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