Needs vs Wants in Economics

Front

The following is an example of a need: Candy, iPhone, Water, Netflix

Back

Water

Front

The following is an example of a want: Shelter, Food, Water, Playstation

Back

Playstation

Front

A need is .....

Back

a necessity that help you to survive

Front

A want is .....

Back

something you would like to have but do not need

Front

Which of the following is an example of a need? Shelter, Vehicle, Microwave, Pool

Back

Shelter

Front

The following is an example of a want: Food, Water, Shelter, Notebook

Back

Notebook

Front

a plan that details how money will be earned and spent

Back

budget

Front

a decision between two or more options

Back

choice

Front

things that are made or grown and then sold

Back

goods

Front

to set aside money for later use

Back

save