2) Explain the characteristics of human wants.
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The main characteristics of human wants are as follows:
1. Wants are unlimited:
Human wants are unlimited in number and there is no end to them. When one want is satisfied then another arises. Wants go on multiplying. They are never completely satisfied.2. Wants vary in nature:
Wants may vary with time, place and person. Different persons may want different things. Even the same person may want different things at different times and at different places.
3. Wants differ in intensity:
All wants are not equally urgent and intense. Some wants are more urgent and important than others. More urgent wants must be satisfied earlier while other wants can be postponed.
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