Needs
Topic: Scarcity, Choice and Economic Systems · NCERT: Class 7, Ch 12 "Understanding Markets"; Class 9, Ch 8 "Building Blocks in Economics: The Problem of Choice"
Meaning
Needs are the things a person requires to survive: food, water, clothing and shelter. Without them, life itself is at risk. Needs are fairly basic and limited. Wants, by contrast, are endless. The line matters in policy, because governments often try to guarantee needs for everyone, whether or not people can pay.
Example
A daily meal, drinking water and a roof over one's head are needs. India's NFSA 2013 aims to guarantee a minimum level of food consumption, so that the basic need for food is met even for poor households.
Don't confuse with
- Wants: wants are things a person desires but does not need to survive, such as a smartphone upgrade or a holiday. Wants are unlimited and keep changing.