Need vs Wants economics terms/concept.

  Need vs Wants

 Need vs Wants economics basis terms and difference between them easily understand through following examples.

Needs-: ‘stuff’ we must have to survive. (Need उसे कहा जा सकता है जो किसी प्राणि, वनस्पति इस. के लिए अत्यावश्यक है, वह चिज़ चाहिए to survive.)
 Eg. Food, Shelter, Clothing.

 What is stuff ?-: People who buy good and services is known as ‘consumer’ formerly we called it as ‘stuff’.

Wants-: ‘stuff’ we would really like to have fancy food, shelter, clothing, big screen TVs, jwelleries, conviniences are also known as ‘Luxuries’
( Wants उसे कहा जा सकता है जो चिज़ चाहिए पर अगर न मिले तो कोई जादा नुकसान नहीं होगा।)

  Wants.                            Vs                                Needs

 Water is our wants .                                                                            Tea is our need

So, in this way difference between Need vs Wants we can easily understand.

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