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Understanding Needs and Wants

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bobbillyhduf07
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5 views4 pages

Understanding Needs and Wants

Uploaded by

bobbillyhduf07
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Values, Needs, Wants & Scarcity

What are Values?

Needs vs. Wants


 Need –

Example of Needs:

Needs vs. Wants


 Want –

Examples of Wants:

 Economics –

 Finance –

 Scarcity -

How much of something would you want if it was free?

Opportunity Costs -

Spending Habits
How do your values influence your wants?

How do you spend your money?


Vision, Goals, Opportunity Costs
Vision –

Goal –

Financial Goals –

Education Goals –

S.M.A.R.T. -

Short-term –

Long –term –

Delayed Gratification –

Opportunity Costs –

Sacrifice and Happiness –

Scarcity and Choices


Supply and Demand Graph
BY-NC-ND

Supply

Demand

Price

Quantity

Surplus

Equilibrium Point

Shortage

Supply and Demand

Resources and Wants

Scarcity

The “Jones'"

Comparison Shopping

Sales

Actual Price

Unit

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