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needs are essential to ones survival, while wants merely express a desire for something which could over time, help to satisfy a need. as societies become more complex, and as human begins take on more sophisticated lifestyles, their needs and wants increase. therefore a variety of needs and wants are expected to be satisfy.
What else can I help you with?
What is the main objective in the study of economics?
The main objective in the study of economics is to understand how individuals, businesses, and governments make choices about how to allocate resources to satisfy their needs and wants.
People must make choices to satisfy their needs and wants?
Economic
What is the importance of capital in satisfying human needs and wants?
when you invest your capital, you create the products which will satisfy human needs and wants you can also be creating needs and wants.. but that's an other story
Economic products designed to satisfy peoples wants and needs?
Economic products designed to satisfy peoples wants and needs are consumer goods. The type of goods that are needed and wanted can vary depending on area and culture.
The use of goods and services to satisfy human wants and needs is known as what?
consumption
How does production help in satisfying needs and wants?
It provides products to satisfy your needs and wants.
What do businesses do to satisfy peoples needs and wants?
Business seeks to satisfy the needs and wants of customers. Needs are things that we all need to survive: water Food shelter warmth Wants are everything else: A luxury Boat A New Car Air Travel Pets An expensive Watch Business does this by creating goods for sale - and providing them in a place where customers can buy them. Business also satisfies a customers needs by providing services such as hairdressers or cleaners.
What is the main objective in the study of economics?
The main objective in the study of economics is to understand how individuals, businesses, and governments make choices about how to allocate resources to satisfy their needs and wants.
What products and services that satisfy the needs and wants of target customer?
maybe money can satisfy the consumers because they can buy what they want and their needs
The power of a good or service to satisfy a human need is called utility?
To satisfy human "wants" and not "needs"
People must make choices to satisfy their needs and wants?
Economic
What are aims of all businesses?
To produce and sell for a profit, goods, products, and services that satisfy society's needs, wants, and desires. e.g. sell a good or service, and make money doing it.
What is the importance of capital in satisfying human needs and wants?
when you invest your capital, you create the products which will satisfy human needs and wants you can also be creating needs and wants.. but that's an other story
Economic products designed to satisfy peoples wants and needs?
Economic products designed to satisfy peoples wants and needs are consumer goods. The type of goods that are needed and wanted can vary depending on area and culture.
The use of goods and services to satisfy human wants and needs is known as what?
consumption
The process of creating goods and services to satisfy human wants and needs?
production
When consumers needs and wants are greater than the resources available to satisfy them?
Scarcity.
