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Economics - Financial Markets 17 Online
OpenStudy (anonymous):

how are needs, wants, and demands related?

razor99 (razor99):

okay lets see

razor99 (razor99):

Needs are the basic nessecities essential for our daily life

razor99 (razor99):

Wants are the desires over and above desires example luxurious cars and stuff

razor99 (razor99):

demand The amount of a particular economic good or service that a consumer or group of consumers will want to purchase at a given price

razor99 (razor99):

Needs are the basic nessecities essential for our daily life Wants are the desires over and above desires example luxurious cars demand is the amount of a particular economic good or service that a consumer or group of consumers will want to purchase at a given price. These thing relates due to many reason First needs are the basic nessecities essential for life which mean we cant live without them and wants are the desires over and above needs. if there is no demand the for the product then these things want be there

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