The Economy: Needs and Wants: Topic 2 Flashcards
What is a need? Name another word for need.
A need is something that we cannot do without if we wish to survive.
Primary needs.
What is a want? Name another word for want.
A want is a desire/craving for certain things we would like to have.
Secondary needs.
Name 8 natural needs and wants that are common to people at all times.
- Food
- Clothing
- Love
- Power
- Sympathy
- Relaxation
- Happiness
- Comfort
Name 3 essential needs that people cannot survive without.
- Food
- Housing
- Health Services
Name 3 luxury wants that people can easily survive without.
- Expensive Furniture
- Fancy Clothes
- Motor Car
1.NEED FOR SECURITY, SAFETY AND PROTECTION:
People need protection against _____ and _________.
2.SPIRITUAL NEEDS AND WANTS:
People have an ______ need for _______/________ values.
3.CULTURAL NEEDS:
People have a need to belong to a certain _______ group. The cultural of different people _____ a lot and so do their needs.
- a) Criminals.
b) Disasters. - a) Internal.
b) Religious/ Spiritual. - a) Cultural.
b) Varies.
Explain the basic needs of:
A) Individuals and families
B) Communities
C) Country
A) Both individuals and families have needs and wants. Individual needs and wants depend on personal likes and dislikes and the money available.
B) Communities also have needs, for instance: A need for proper roads.
C) All countries have needs and wants. A country gets its income or revenue mainly from taxes. This money is then used to satisfy the needs and wants of the country.
Who used a pyramid diagram to show the different kinds of needs and wants?
Abraham Maslow, an American professor.
List the 5 stages of the pyramid and give a few examples of each.
- Physiological needs: Food, Water, Oxygen and Warmth.
- Safety and Security needs: Safety of body, health, property and family.
- Social needs: Love, Belonging, Family, Friendship.
- Esteem needs: Confidence, Achievement, Respect.
- Self-actualisation needs: Self-development, Creativity.
What is a ‘limited need and want’ and ‘unlimited need and want’?
Limited need and want: Can get to the end of it.
Unlimited need and want: Cannot get to the end of it.
1.NEEDS AND WANTS ARE UNLIMITED:
People have many needs and wants and as soon as a need/want is _______, another one _____ its place.
2.NEEDS AND WANTS HAVE LIMITED INTENSITY:
The ______ of needs and wants vary. Sometimes the satisfaction of having a need/want lasts only a _____ time, and in other cases it is more ________.
- a) Satisfied.
b) Takes. - a) Intensity.
b) Short.
c) Permanent.
- NEEDS AND WANTS COMPETE WITH ONE ANOTHER (SUPPLEMENTARY) AND CAN REPLACE ONE ANOTHER:
A person may easily _____ from needing/wanting one product/service to needing/wanting another _______ product/service. - NEEDS AND WANTS ARE COMPLEMENTARY/ ARE DERIVED FROM OTHERS:
Some needs and wants _______ other needs and wants.
- a) Change.
b) Similar. - a) Involve
- WANTS BECOME HABITS:
_______ a want for smoking and drinking may result in a habit. - WANTS DIFFER WITH TIME:
As time passes, people needs and wants _____. In ______ we need heaters and in ________ we need fans. The needs and wants you had when you were _______ will be different from those you have ___.
- a) Satisfying.
- a) Change.
b) Winter.
c) Summer.
d) Younger.
e) Now.
- NEEDS AND WANTS DIFFER FROM PLACE TO PLACE:
People living at the South pole need _______ _______ clothes, whereas people living neat the Equator need _____ clothes. - NEEDS AND WANTS DIFFER FROM PERSON TO PERSON:
People do not have the ___ needs and wants. A cell phone for a lawyer is a _____, but it is a ____ for a school-going child.
- a) Very warm.
b) Cool. - a) Same.
b) Necessity.
c) Luxury.
