II. TYPES/KINDS/CLASSIFICATION OF HUMAN WANTS.
Everyone works in order to satisfy their wants.
Wants are basically the basis of all economic activities.
Hence we can say:
1.Men have wants and needs.2.They have to satisfy them3.They require money to satisfy their wants.4.They have to work to earn money.
Earlier people were satisfied with simple food, clothing, andentertainment.
But today people simply want everything they like and canafford to have.
There is a continuous increase of wants.
As wants increase production and trade too will have to increase.
There will be increasing employment.
The various types of human wants are:1.Primary wants- Necessaries2.Secondary Wants- Comforts and Luxuries.1.Primary Wants- Necessariesi. Necessaries for existence
Man requires the basic wants namely food, water, clothing, andshelter.
Without food a person cannot live at all.
Hunger is so painful that a man will do anything to satisfy it.
Also, considering that we are living in a civilized society, manalso requires clothes.
A man may be prepared to starve but will not like to go outwithout some clothes.
Housing comes at a lower level but it is again a necessity.
These are wants which are
essential and necessary for existence.ii.
Necessaries for efficiency