Check sibling questions


  • Needs are things that people require to survive, such as food, water, clothing, and shelter.

  • Wants are things that people desire to have but are not necessary for survival, such as toys, expensive shoes, or the latest electronics.

  • Both needs and wants must be purchased with money . Sometimes people confuse their wants and needs and spend too much of their money on things they want. Then they do not have enough money for their needs.

  • A budget can help people figure out what they can afford. A budget is a plan that lists how much money a person has and all the needs and wants that cost money. This list makes it easy to make sure that all a person’s needs are purchased before the wants.

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Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 13 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.