What refers to the goods and services that are desired by human and will be acquired only after all the needs have been satisfied?

Solution (By Examveda Team)

In the context of engineering economics, luxury refers to goods and services that are desired by humans but are acquired only after all the basic needs (necessities) have been satisfied. Luxuries are typically non-essential items or services that provide comfort, pleasure, or prestige, but they are not essential for survival or basic functioning. Therefore, the correct option is Option C: Luxury.