Human Wants

Introduction

Wants are the starting points all economic activities. These wants must be satisfied so that we can live. To satisfy our wants, we have to work and produce goods and services. That is why the farmer cultivates the field, the labour works in the factory, the doctors treat the patients or teachers teach in school s and colleges. They have to produce goods and services which will help them in satisfying their wants. Thus wants give rise to efforts and efforts lead to satisfaction. This shows that human want is the starting point of all economic activities and satisfaction of human wants,   i.e. consumption is the end of all economic activities.

Meaning of Wants

Want is the desire for the possession of a commodity or services. When a man wants to marry a woman, this becomes a social want not an economic want though it may have side economic effects. Here we are concerned with economic wants, Any human want which has economic repercussions want. An economic want may be defined as the desire for the possession of a commodity or services.

Characteristics of Wants

Human wants have the following characteristics

Human wants are unlimited:

One of the fundamental characteristics of human wants is that they are unlimited. When one want is satisfied, another crops up in its place. When the second want is satisfied, a third appears and so on. Each step in human life is marked by a growth in number and variety of wants. Therefore it is rightly said that man is a bundle of wants.

A particular is satiable:

Though human wants are unlimited and all can not be satisfied with the limited means available, any particular want is satiable provided one has the means. Each separate want has a limit. If one needs food, he can satisfy his hunger by talking food. His desire to have more food gradually diminishes and time comes when would refuse to take food. So the want for food is limited and satiable.

Wants are complementary:

In many cases the satisfaction a particular want requires the use of more than one good. Our want for tea presupposes the need for sugar, milk and tea dust. Similarly our want for motor-cycle involves at the same time want for petrol. Writing need can be satisfied when we have pen, ink and paper together.

Wants are Competitive:

Wants compete with each other. All of our wants cannot be satisfied simultaneously because means are limited. Our want for cycle competes with our want for a radio set. Similarly we want to have an umbrella, a book and a pair shoes. We cannot buy all because we have limited income. Hence we have make a choice – which want is to be satisfied first and which one is to be postponed for the future.

Wants are alternative:

A particular want can be satisfied by different alternate ways. Our want for hot drink can be satisfied either by tea or coffee. We can quench our thirst either by water, or by green cocoanut or by soft drinks. There are different alternatives open  before us in many of our wants.

Wants vary with time, place and person:

Different persons want different things at different times. South Indians prefer rice whereas North Indians want bread as their staple food. People want woolen garments during winter and cotton clothes in summer. Some people may prefer vegetarian dishes whereas some like non-vegetarian meals.

Wants vary in their intensity:

All wants are not equally important. Some are more urgent than others. Our want for food is more important than our need for a motorcycle. The more urgent wants are satisfied first and the less urgent ones are postponed.

Wants recur:

Wants recur again and again. Some wants after being satisfied reappear again after a time gap. We feel the need for a cup of tea in the morning. After taking tea, the same need is felt in the evening.

Some wants turn into habit:

When a want is being satisfied continuously over a period of time, it becomes a habit such as chewing betel or smoking cigarettes.

Wants are influenced by advertisements:

In modern times, advertisement of different products in mass media like news papers, radio, TV etc. influence human wants. By watching TV and reading newspapers or journals, we come across various attractive advertisements. When we go to the market we enquire about the products and ultimately purchase them.