Topics: Need, Want, Economics terminology Pages: 4 (1239 words) Published: November 2, 2014

In today’s society, it is noticeable that the economics is acknowledging and describing the difference between needs and wants. What people need to realize is that, do we want them or do we really need them? People nowadays buy things everyday and often tend to get their wants more than needs compare to people in the 1800s, who survived without wanting or desire towards something. Those days it is common to have the needs before their wants because of the economy. Based on my evaluation, I think that our needs are not unlimited but our wants are limited when comes to consumer society and it’s cost, advertising and social obligations or status. These factors influences and makes us want to buy more things that we supposedly need. It is more likely a vicious circle, the more we need the more we want. This cycle will continue to evolve every day until an external factor breaks the cycle. Therefore, my analysis as an individual illuminate the study of two specific item that I have purchased for a week to differentiate between my needs and wants. A need is something that we cannot live suitably without, which implies things that absolutely necessary to our lives. This refers to a general feeling of needing basic necessities which includes needing physical items such as food, clothing and a place to live. Besides, needs also refers to a general needs and specific needs. For example, I need something to cover myself during the rainy season is a general need, while I need an umbrella is a specific need. As an individual needing something to cover myself during the rainy season, I could have buy a raincoat, rain jacket or a leather hooded jacket instead of needing an umbrella. Therefore, from the above example it shows that general needs can be satisfied in various way based on the person’s specific needs. Furthermore, to support my statement above I have assigned the purchased item, Helium...

Cited: Campbell, Colin. "The Need-Want Rhetorics in Academic Discussion." Campbell, Colin. Consumption and the Rhetorics of Need and Want. Oxford University Press and Design History Society, 2013. 240. Print.
David. Discerning the Difference between Needs and Wants. n.d. Web. 29 September 2013.
Erin Huffstetler. How to Distinguish Between the Wants vs. Needs. 2013. web. 29 September 2013.
Oxford Dictionarie. consumer society. 2013. Web. 28 September 2013.
Press, Studio. What Is Social Responsibility? n.d. Web. 29 September 2013.
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