X

WNTS meaning in Community ?

( 5 )  .  1 Rating
1672 views   .  0 comments  .   . 

Download Solution PDF

Answer: What is Wants mean?

The idea of want can be examined from many perspectives. In secular societies want might be considered similar to the emotion desire, which can be studied scientifically through the disciplines of psychology or sociology. Want might also be examined in economics as a necessary ingredient in sustaining and perpetuating capitalist societies that are organised around principles like consumerism. Alternatively want can be studied in a non-secular, spiritual, moralistic or religious way, particularly by Buddhism but also Christianity, Islam and Judaism.

In economics, a want is something that is desired. It is said that every person has unlimited wants, but limited resources (economics is based on the assumption that only limited resources are available to us). Thus, people cannot have everything they want and must look for the most affordable alternatives.

Wants are often distinguished from needs. A need is something that is necessary for survival (such as food and shelter), whereas a want is simply something that a person would like to have. Some economists have rejected this distinction and maintain that all of these are simply wants, with varying levels of importance. By this viewpoint, wants and needs can be understood as examples of the overall concept of demand.

reference

Take Quiz To Earn Credits!

Turn Your Knowledge into Earnings.




Give Rating
Report
Write Your Comments or Explanations to Help Others
Comments(0)





Miscellaneous in Community
Miscellaneous in Community

Ever curious about what that abbreviation stands for? fullforms has got them all listed out for you to explore. Simply,Choose a subject/topic and get started on a self-paced learning journey in a world of fullforms.

Explore Other Libraries

X

Important Community Links





Copyright (c) 2021 TuteeHUB

OPEN APP
Channel Join Group Join