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Individual customer is one real person that wants to buy something from you. Industrial customer is a large company/organization that wants to buy things from you.
what is the difference between want and wants
desires by an individual are individual wants.
nothing
Collective wants refer to desires of community to have certain goods and services. eg. having acivic hall, park etc.
Needs are things that are essential for living whereas wants are things want that are not essential.
There is no difference. The manufacturer decides how he wants to call his equipment.
scarcity
You need food and water but you want everything else.
The main difference between public wants and private wants in business is the key words private and public. Private is personal clientele and their personal needs such as jets, hotels, and restaurants. Public wants are governments costs, marketing, and such.
private wants are the wants of an individual or group such as family or business.
The double coincidence of wants is one of the major part of the Barter System.The two basic terms actually don't have any specific difference.