Human Wants

Wants have major roll in economic activities and a root reason behind all human activities. Human wants means the need to induce and use goods and services. We found everybody during this world surrounded by various kinds of wants. People work and struggle throughout their lives to satisfy their wants. Economic activity produces goods and services and creates incomes, which are used to provide satisfaction, but it is very difficult to satisfy all the needs completely. Some wants fully satisfied but some appear again and again or a replacement want arise. Thus we may say that desires are unending for an individual's until death.

Human wants are of two types economic wants and non-economic wants.

1) Economic wants are those wants which might be satisfied only by the utilization of money.
2) Non-economics wants are the will of the people which are possible to satisfy their wants without the utilization of money.

Classification of Human Wants:

Human wants is classified into following three categories.

1) Necessities

Necessities are human wants to keep up human life. Like food, clothes and Shelter needed to satisfy these wants are called necessities. Basic education, medical aid may also be included within the list of necessities.

2) Comforts

Comforts make our life easier and increase our efficiency in work. they are not essential; they are the additional wants of the human after necessities. Comforts are the needs that make the lifetime of the human comfortable and satisfying. like mobile, furniture, fan etc.

3) Luxuries

Luxuries are goods which have less utility but a high price. These are not seem to be essential; but these goods give humans pleasure fame or prestige in society. Comfort is for the happiness and acceptance within the world. These goods are expensive like Jewelry, branded clothes, air conditioner, sports car etc.

Characteristics of necessities

1) Unlimited: Human wants are maintaining life. it is insufferable to satisfy all of them. As time passes and circumstances change, new wants come up. Thus there is without stopping to human wants for example; a poor person, first of all, wants food, when he gets some he looks for clothes to wear and so house to live In Similarly. an individual who has a motorcycle desires to possess a car.

2) Attached wants: Some wants are attached with other wants they will be satisfied together. For example; if somebody purchases a smartphone he wants electricity, signals and Internet.

3) Importance: Most wants have their importance in everyday life over the opposite wants. For example; food is more urgently wanted than a clothes and shelter.

4) Reappear: Most wants once satisfied appear again and again. For example; water is necessary for everybody but after some interval of time, we feel thirsty again to satisfy our want.

5) Alternate goods: In limited resources an individual will choose alternate good. For example; a hungry person may eat bread or rice.

6) Choice: A choice should be done in abundant wants, due to limited resources; all wants can not be satisfied at the same time.

7) Wants changes: Some wants changes with time, place, trend, taste, fashion, prices, income, age, climate, and occupation.

8) Collective wants: Some wants are like sharing with others or for collective satisfaction. For example; like a family living in a house, social gathering or celebrating any event.

9) Present wants: Present wants have more importance for people instead of future wants. For example; if a boss ask to his employee that he wants bonus now or next month definitely his answer will now.

10) Habitual Wants: Some wants with the passage of time may become habit. For example; many peoples have the habits of coffee, tea, or smoking.