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Distinction between Needs and wants
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[QUOTE="btaliat, post: 215675, member: 26390"] For those that didn't knw the difference between needs and wants, there are some illustrations that clearly stated difference between the two especially for those that have basic knowledge of Economics as a subject.. Wants are very many when compare to needs. They are most things that we desire even when we are truly aeste that we may not get them because most time wants are not really meant to be gotten or achieved. Needs on the other hand are necessities and what we must get as a matter of urgency. There may be time when there can be many needs at the same time as well. For instance, a student may not know whether to buy a new uniform for his school or to buy a new textbook for his exams. This is when a scale of preference comes in to make the right decision [/QUOTE]
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