Final answer:
To economists, needs can vary in urgency depending on circumstances due to the concept of scarcity (option b), which requires tradeoffs and decisions on resource allocation.
Step-by-step explanation:
To economists, needs can be more or less urgent, depending on the circumstances. The concept of scarcity is essential in economics; it implies that resources are limited and decisions must be made on how best to allocate these resources. While needs such as food, water, and shelter are essential for survival, the urgency of other needs may vary and are influenced by an individual's particular situation and the tradeoffs that must be made.
Economics is the study of how humans make decisions in the face of scarcity. It explores individual, family, business, and societal choices. Scarcity means human wants for goods, services, and resources exceed what is available. Since all resources, including time, are finite, individuals must prioritize their needs and wants. Even wealthy individuals like Bill Gates and Warren Buffett face scarcity because, despite their financial resources, time remains a limited commodity.
Therefore, when considering the urgency of economists' definition of needs, it becomes clear that needs can indeed vary in importance based on context, scarcity, the reality of tradeoffs, and individual preferences. The correct option in the final answer is b. Can be more or less urgent, depending on the circumstances.