3.1 Needs Vs. Wants
LESSON #1: NEEDS vs. WANTS
ACTIVITY #1: Needs Vs. Wants
Needs Vs. Wants WS download
- only print and hand out LAST PAGE!
Activity Instructions:
- First: Circle the items that you need everyday of your current life, what you use every day.
- Second: Put a diagonal line through anything not circled that you would like to have to make
your life more comfortable, fun or interesting
- Third: Watch this clip and then consider your list again...
YouTube Video
Think about all of the things that you have in your life, in your home etc....
Which of these things are essential, a necessity, for you to survive?
Which of these things are non- essential, or “extra” things you don't need to survive?
Each of us has some common things that we require or need to live.
These items are called needs.
Examples of basic needs (or basic necessities) include food, water, shelter.
Our needs may be different based on where you live, at different times in our life,
such as when we retire, lose a job, get a divorce, or get sick and can’t work.
Besides basic needs, you have other things that are non-essential to your life, that you use and buy as needed.
These non-essential “extras”, make our lives more enjoyable and comfortable.
They often are things you’d love to have but could do without if you don’t have the money to buy them.
These items are called WANTS.
Some examples are eating out, having a manicure, a new bicycle, a CD player for each TV,
designer clothes, going to movies, buying a sports car because you don't like driving your van on weekends,
or buying a new couch because your other one is 5 years old.
Also, one person’s wants may be another person’s needs.
For example, one person may need a cell phone to feel safe when traveling,
whereas, for another person it is a want, because they are in grade 9 and everyone else has one.
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Part 1: Basic Wants and Needs
One of the most basic concepts of economics is want vs. need.
What are they exactly?
A need is something you have to have, something you can't do without. A good example is food. If you don't eat, you won't survive for long. Many people have gone days without eating, but they eventually ate a lot of food. You might not need a whole lot of food, but you do need to eat.
A want is something you would like to have. It is not absolutely necessary, but it would be a good thing to have. A good example is music. Now, some people might argue that music is a need because they think they can't do without it. But you don't need music to survive. You do need to eat.
These are general categories, of course. Some categories have both needs and wants. For instance, food could be a need or a want, depending on the type of food.
You need to eat protein, vitamins, and minerals. How you get them is up to you (and your family). You can eat meat, nuts, or soy products to get protein. You can get fruits and vegetables to get vitamins and minerals. You can eat yogurt or cheese to get other vitamins and minerals. You can eat bread to get still more vitamins and minerals. These basic kinds of foods are needs.
Ice cream is a want. You don't really need to eat ice cream to survive. You can eat it to get some vitamins and minerals, but other foods like cheese and yogurt give you more of those same vitamins and minerals without giving you the fat that ice cream does. Still, ice cream tastes good to many people. They like to eat it. They want it, but they don't need it. They like it, but they don't have to have it to survive.
OK, we've covered food. What other kinds of things does your body need to survive?
Another example is liquid. Your body has to have liquid to survive. Water is a good liquid to drink because it keeps you healthy. Milk and fruit juice are also good because they give you vitamins and minerals your body needs without giving you the fat and excess sugar found in cola. Still, cola tastes good. Drink a Pepsi or Coke or Mountain Dew or Sprite and you feel good because it tastes good. But you don't need that cola to survive.
See the difference between need and want?
Now let's see how you do on a little need-want quiz:
NEED-WANT QUIZ
1) Is a house a want or a need?
Want
Need
2) Is a car a want or a need?
Want
Need
3) What about an Ipad? Want or need?
Want
Need
4) How about medicine? Want or need?
Want
Need
5) Finally, what about school? Want or need?
Want
Need
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