Human wants are_ and the resources to fulfill these wants_ to fulfil these wants
Answers
All the desires and aspirations and motives of humans are known as human wants in economics. And the wants that can be satisfied with goods and services of any kind are economic wants. Like for example food, shelter, clothing, etc are economic human wants. And those which cannot be bought are non-economic wants like peace, love, affection, etc.
All human wants to have some basic common characteristics. Let us have a look at the similar nature of human wants.
Wants are unlimited. A human is never truly satisfied, and so his wants to are endless. We may temporarily satisfy some of our wants but they always reoccur.
Different wants have varying degrees of intensity. Some wants are extremely urgent, some are less intense.
Human wants tend to be competitive. We have limited means and so we cannot satisfy all of our wants. So they compete with each other. And the most urgent want will be satisfied.
Wants can be complementary as well. To satisfy our want for one good we have to make arrangements for another. So now we have the want of two goods. For example to run a car you need petrol.
The wants of any person will constantly be changing according to the time and place and situation of the person.
Over time wants of a person can become his habits or customs.
Classification of Human Wants
We can classify wants into three broad categories in economics. These are Necessaries, Comforts, and Luxuries. Let us take a look at all three.
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