Needs and Wants

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created 7 years ago by dan_k1
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1

Needs

Things that are essentially for survival; food, water, clothes, shelter, medical attention/Warmth

2

Wants

Things that humans desire; Cell Phone

3

The economic problem

A human wants to buy things all the time, thus making an unlimited demand, but since there is a lack of resource, and not everything can be bought, this is called the economic problem.