Basic Economics

NEEDS are things we

• don't really need but would like to have.

• must have in order to survive.

Which do you NEED to survive?

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Which is a WANT we would like to have but do not need to survive?

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WANTS are things we

• must have in order to survive.

• would like to have but don't really need.

Soda is a need.

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• 

Air is a want.

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Which is a want?

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Which is a need?

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Is electricity a need or a want?

• WANT

• NEED

You get your haircut

• Good

• Service