Chapter 2 Class 6 Economics - Needs and Wants

What is the difference between needs and wants?



Answer by Student



Needs are things that people require to survive

Wants are things that people desire to have but are not necessary for survival

Influenced by internal factors such as biological or psychological requirements.

Influenced by external factors  such as advertising, peer pressure, values, culture, etc

Examples: food, water, clothing, shelter, health, safety

Examples : a new smartphone, a vacation, a car, a pizza


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Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.