As humans we always have wants and needs, but there is something we have to think about when deciding if we need or want something, scarcity. Scarcity means that people have unlimited wants but limited resources to meet those wants. Because of scarcity, we cannot have everything we want so it is important to make good choices with your money and what you buy.

The answer is no. Each time we make a choice, we give up something. Let's say you have $10. You want to buy both a $6 toy train and an $8 sandwich but you cannot because you only have $10! You have to make a choice, do you buy a toy train that you want or a sandwich that you need? If you choose to buy the sandwich you cannot buy the toy train. Purchasing the toy train is called an opportunity cost, it is what you are giving up to buy the sandwich. So, making decisions is not free.