Question

What are Economic and Non Economic Wants?​

Answer 1

Wants :

Answer:

Economic Wants :-

These wants are those where monetary transaction is involved. An Individual has to pay the price of them.

E.g - Food/Medicines

Non-Economic Wants :-

These wants are those which can be satisfied without making monetary transactions.

E.g - Sun shine/Air/Water

Answer 2

Answer---»»➷✍

※ Economic

✴➛Economic wants are normally referred to as the desires which are normally satisfied after taking goods, service or in other cases leisure while on the other hand.

※ Non Economic

✴➛Non economic wants are normally

human needs which need to be satisfied

without involving monetary value or cost.

and non-economic wants may include air or water.