Human desires are innumerable, to fulfill them, man does all kinds of hard work and this hard work continues till death. Therefore, the starting point of the economic struggle is the achievement of human desires, and the struggle's motivation is the satisfaction of desires.
They refer to the requirements on which the necessities of life depend. These human needs are numerous and countless. Basically, it is difficult to live without food, clothing, and shelter. Apart from this, things that provide comfort and convenience in life (for example, furniture, bicycle, television, air conditioner, car, pen, etc.) and services (for example, the services of doctors, lawyers, teachers, banks etc.) are also an essential part of life. There are two main types of human wants.
- Non Economic Wants
- Economic Wants
Non Economic Wants:
There are certain wants of human beings that do not require money to get them. For example, making friends, resting and others are freely available to man by Allah. For example, water, sunlight, light, etc. All such needs are called non-economic needs in economics. They have nothing to do with the knowledge of economics because in economics only those problems or objectives are discussed for which a person has to pay the price or cost.
Economic Wants:
Such needs which require money to be spent are called economic needs. For example, the struggle to get food to satisfy hunger, clothes to cover the body, a roof to cover the head, etc., fall under the category of economic wants and a person has to spend money or rupees to fulfill them. Such needs are called economic wants.
Characteristics of Economic Wants
Economic wants have the following characteristics in common.
1 - Unlimited Wants:
Human desires are unlimited and the economic capital or money to fulfill them are limited. Therefore, no one can claim that all his wishes have been fulfilled. However, when we fulfill one desire, another desire is born and this cycle continues throughout the life of a person. For example, the need for basic daily necessities such as food, house, pen, flour, etc. is felt every day.
2. Wants Compete Each other:
Mutual needs compete with each other. Because all desires are not of the same nature and importance. Some desires are more important and necessary like food, clothes, house etc. and some are less important like car, air conditioner etc. Which can be postponed for some time. Therefore, man sets priorities according to the importance of desires and needs.
3. Wants are Recurring:
Most of the human desires are born again and again. So they have to be fulfilled every time like flour, ghee, sugar, milk etc. Similarly, when we feel thirsty we drink water but after some time we feel thirsty again and this cycle continues throughout our life. Therefore, such needs are satisfied temporarily but after some time they start to be felt again.
4. Alternative Methods of Satisfaction:
Different desires can be fulfilled in many ways, for example, if we are hungry, we can satisfy our hunger with bread, rice, vegetables, milk, double bread. In this way, any one of wagon, bus, car can be selected for the purpose of traveling, we can exchange assets or give money to purchase. As if there are alternative ways to satisfy every desire.
5. Complementary Wants:
Different desires are inseparable from each other and cannot be fulfilled without each other. For example, car without petrol, pen without ink, hockey without ball. All these are necessary for each other.
6. Habit Forming Wants:
Some desires appear only because of habit, for example, the habit of smoking, the habit of sleeping more, all such desires come into existence by adopting a habit.
7. Wants and Fashion:
Some human desires are subject to fashion or custom. For example, if a fashion or custom of a garment goes out of fashion, the consumer demand for the garment also changes according to the new fashion or custom.
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