Define & Differentiate between NEEDS, WANTS & DEMANDS. Easy qn but very imp.

Discussion in 'Banking' started by Arpit Goel, Sep 12, 2017.

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  1. Arpit Goel

    Arpit Goel New Member

    Define & Differentiate between NEEDS, WANTS & DEMANDS. Easy qn but very imp.
     
    Arpit Goel, Sep 12, 2017
    #1
  2. Innate Virtue Struggling

    Innate Virtue Struggling New Member

    Needs are basic necessities like food, clothing, shelter and healthcare. Wants are goods ; services that are not necessary for we wish ; desire for them.Demand is constituted when there is ability and willingness to satisfy the want.
     
    Innate Virtue Struggling, Sep 12, 2017
    #2
  3. Mohit Mehlawat

    Mohit Mehlawat New Member

    And demand is, "when the want is backed by the purchasing power"
     
    Mohit Mehlawat, Sep 12, 2017
    #3
  4. Singh Ashish

    Singh Ashish New Member

    Needs are basic things which is essentially required to live like food water shelter etc
     
    Singh Ashish, Sep 12, 2017
    #4
  5. Innate Virtue Struggling

    Innate Virtue Struggling New Member

    Mam i will like to explain with the example, i am searching job its need, i applied for MO its want, and if i have ability to get that job its demand
     
    Innate Virtue Struggling, Sep 12, 2017
    #5

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