I am a student of business studies in IGCSE. I want to ask about the difference between Needs and Wants. Can you give some examples for needs and wants?
A need is something you have to have to survive or complete a task. A want is simply the desire for something, in many cases something to satisfy a need. You need food to survive
A need is a good or service essential for living. E.g. Food, shelter, water etc.
A want is a good or service which people would like to have but is not essential for living. People’s wants are unlimited. E.g. Designer clothes, Expensive cars etc.
(Hodder’s education IGCSE business 4th edition)