“Human Beings: Our Needs and Wants “

 > Explanatory Article by Marios Kyriakou, MSc Economics


About the author: Marios Kyriakou has a bachelor’s degree in Economics from the University of Cyprus and a master’s degree in Economics from the University of Warwick. He is also a holder of CySEC’s Advanced Certificate in Financial Services Legal Framework and a professional in Online Trading, Forex and CFDs with more than 7 years of experience.

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<Last updated 13.04.2020>

Dear reader,

Hi! If you are interested in Economics, I’ve prepared the below to help your understanding about human beings. You should take a look at this short article where I discuss the behavior of people in regards to their needs and wants.

If you live in a big city, just look around you. You see the results of a civilization that emerged. Houses, buildings and towers have been built because people decided to stay in cities surrounded by walls, or the so called borders.

People through the ages have gathered in communities, organized communities of human beings. These communities were controlled under a single authority. They understood well that by working together creating communities, organizations, governments they have more chances of survival.

People’s needs and wants are satisfied when they gather or purchase and use goods and services by businesses, or by nature. These needs are separated into two categories. Basic needs and social, or civilization needs.

> Basic needs are the ones that if we fail to satisfy them, we won’t survive. These include food, clothing and shelter.

> Civilization needs are the ones that are created due to the interaction of a person with the rest of the people, the society. People live and interact with each other, as a result new ideas emerge, new desires, new goods and services are advertised and not vital needs and wants are continuously multiplied.

Each and every citizen offers services to society either by being an employee or an entrepreneur. Entrepreneurs create businesses and by providing products and services through the markets, people can satisfy their needs and wants.


 

“I hope I am clear on this one. If not, contact us on social media and we will do our best to help you.

Thank you for reading my articles and watching my videos.”

Marios Kyriakou

References:
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Βλαδιμήρου-Παναγιώτου Β. και Κουζαλή-Σωτηρίου Ε., Οικονομικά Γ’ Λυκείου, Κύπρος, Α΄ Έκδοση 2017.  Υπηρεσία Ανάπτυξης Προγραμμάτων, Κύπρος.
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International student version
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Estrin, Saul Laidler, David E. W. Dietrich, Michael ., 2008, Microeconomics, Harlow: FT/ Prentice Hall, 5th ed.

Disclaimer: This article is intended for educational purposes only and does not replace independent professional judgement. Its purpose is to act as a complementary educational service to society, promoting personal development and social, economic and cultural progress of citizens. While this content has been prepared in good faith, no representation or warranty, express or implied, is or will be made and no responsibility or liability is or will be accepted by the creator to the accuracy or completeness of the information presented or any other written or oral information made available to any interested party and any such liability is expressly disclaimed.

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