Wants and Needs

What is a want?

• A fear of something

• A dislike for something

• Desire or wish for something

• A need for something

What is a need?

• A need is something that is essential or necessary for survival, growth, or well-being.

• A need is something that is harmful or detrimental to survival, growth, or well-being.

• A need is something that is optional or unnecessary for survival, growth, or well-being.

• A want is something that is essential or necessary for survival, growth, or well-being.

Give an example of a want.

• A designer handbag

• A new smartphone

• A vacation to Hawaii

• A new car

Give an example of a need.

• Clothing

• Shelter

• Food

• Water

Explain the difference between wants and needs.

• Wants and needs are the same thing

• Wants are essential for survival, while needs are optional

• Wants are necessary, while needs are optional

• Wants are optional, while needs are essential for survival.

Why is it important to distinguish between wants and needs?

• It is not important to distinguish between wants and needs

• Distinguishing between wants and needs leads to overspending

• There are no differences between wants and needs

• Distinguishing between wants and needs helps prioritize spending and resources, leading to better financial decisions and a more balanced lifestyle.

How can you prioritize your wants and needs?

• By identifying and categorizing your needs and wants based on their importance and impact on your well-being and happiness.

• By choosing whatever feels good at the moment

• By ignoring your needs and focusing only on your wants

• By asking others to prioritize for you

What are the consequences of prioritizing wants over needs?

• Fulfillment of essential requirements

• Long-term stability and success

• Consequences of prioritizing wants over needs include financial instability, unfulfilled essential requirements, and a lack of long-term security.

• Increased financial security

How can you fulfill your needs without overspending on wants?

• Always give in to impulse buying

• Splurge on luxury items

• Ignore budgeting and spending limits

• Prioritize needs over wants, create a budget, and avoid impulse buying.

Discuss the impact of advertising on our wants and needs.

• Advertising only impacts our wants, not our needs

• Advertising has no impact on our wants and needs

• Advertising has a significant impact on shaping our wants and needs by influencing our perceptions and desires through persuasive messaging and imagery.

• People's wants and needs are not influenced by advertising