Professional Documents
Culture Documents
Chapter I
Human Wants, necessary,
comfort, luxuries
"Human wants" are those things that people
desire to have above what they truly need in
order to live. Only a limited number of needs
actually exists, but wants are virtually unlimited,
restricted only by a person's imagination.
1. Wants are unlimited in numbers
2. Wants are satiable
3. Wants are competitive
4. Wants are complementary
5. Wants are alternative
6 Wants recur ( Return)
7. Wants differ in Importance
8. Wants can be created in salesmanship
Goods are things which have power to satisfy a
wants is called utility. The power to satisfy a
wants is called utility. There fore goods are
those things that possess utility. Services of
doctors, layers, teachers, soldiers etc.
We consume a commodity or good to satisfy
our wants. Human being have several wants.
To satisfy human wants, goods have to be
produce, human wants are the starting point
of all economic activity.
Form utility
Time Utility
Place Utility
Services utility