Distinguish between needs and wants. How is such a distinction important for our lives and ecology
Solution
Needs are basically necessary for survival. for example, we need water and food to survive. these are the needs for survival.
While wants are desire. We can survive without completing our wants. like If Mr. A desire to purchase a Audi car, but he can survive without purchasing it. wants are unlimited.
We need to find our priority.As resources are scarce. so we have to make a judicial decision regarding what is important for us. what we need to produced from the given resources.
Human wants are unlimited. human gets satisfying by consuming goods and services but new wants keeps arising.
Resources are limited, like Mr. A has limited income. SO HE has to make decision where he has to spend his income.either on his needs or on his wants.
Similarly, resources are limited like natural resources. So, we have to think over it, while using the natural resources like minerals. because excessive use of minerals will effect our ecology system.
Needs are basically necessary for survival. for example, we need water and food to survive. these are the needs for survival.
While wants are desire. We can survive without completing our wants. like If Mr. A desire to purchase a Audi car, but he can survive without purchasing it. wants are unlimited.
We need to find our priority.As resources are scarce. so we have to make a judicial decision regarding what is important for us. what we need to produced from the given resources.
Human wants are unlimited. human gets satisfying by consuming goods and services but new wants keeps arising.
Resources are limited, like Mr. A has limited income. SO HE has to make decision where he has to spend his income.either on his needs or on his wants.
Similarly, resources are limited like natural resources. So, we have to think over it, while using the natural resources like minerals. because excessive use of minerals will effect our ecology system.