Question

1) Explain the characteristics of human wants
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Answer 1

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Though human wants are unlimited and all cannot be satisfied at a time, but one particular want is satiable. It can be satisfied sooner or later, if one tries for it and he has the resources to satisfy it. For example, a person may feel hungry or thirsty. This want may be satisfied by taking some food or water.

Answer 2

Answer:

Necessaries refer to the basic or primary wants for food, clothing, shelter, medical care, education, etc. ...

Comforts: Comforts refer to the goods and services which make life easier and comfortable. ...

Luxuries: