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Why Can’t We Ever Get Everything We Need and Want?

Ms. Divya Shekar Anchan

Assistant Professor
I BBA ( A&L)
Managerial Economics
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To understand

● What do we want? What do we need?

Objectives ● How do goods and services meet our

needs and wants?

● What happens when there isn’t enough

for everyone?
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Identify the need and wants

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Identify the need and wants

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What do we want? What do we need?

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A need is something that a person

Key Takeaways must have for health and survival,

while a want is something a person
would like to have.
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● ACCA Study Material, Latest Edition, London BPP ;

2016

● ACCA Study Material, Latest Edition, London

Kaplan Publishers Ltd; 2016

References ● D M Mithan, Managerial Economics Theory and

Practice, Himalaya Publication, New Delhi ; 2005

● K K Dewett, Modern Economic Theory, Chand

Publication, New Delhi ; 1999

● Peterson, Lewis and Jain, Managerial Economics

Pearson Publication, New Delhi ; 2001
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Thank You