Gr10_Wk1_ Needs VS Wants

Learning outcomes:
➢ Distinguish between needs and

wants.

➢ Describe the purpose of business

activity.

Homework: Activities on LMS

Unit 1

Introduction to
Business Activity

Things we need to survive,
they are limited, they
include:

Wants

Desires we can live without,
they are unlimited, examples
are:

Needs

Poll

Resources are........

• Items produced by a business

• all what a business need to produce.

• found for free

• desires customers buy to satisfy their needs.

Poll

..................are desires. We buy them to improve our quality of life for instance a Mercedes car.

• Wants

• Needs

Poll

Needs are crucial for survival.

• True

• False

Do you think we can
have all what we want?
Why?

What does a nation
need to satisfy its needs
and wants?

Critical thinking

2

Multiple Choice

Wants are unlimited but resources are limited.

Resources can be workers, money, time, ....

• True

• False

Why do businesses exist?

Business Activity

Poll

Businesses exist to.....

• Make money by producing low quality products

• satisfy consumers' needs and wants

• use limited resources

• sell products not needed by consumers

Group Activity 10mn

Thank you