Requirements: Explanation, Illustration, Category
In the realm of economics, the concept of 'needs and wants' is a fundamental starting point. Economists often discuss this topic in the introduction to their studies, recognising that our needs and wants shape our lives in profound ways.
Needs are essential requirements for survival, such as food, water, shelter, and clothing. These primary needs are the most urgent and essential for sustaining life, often referred to as 'primary needs'. Examples of primary needs include oxygen, food, water, rest, and sex - all fundamental to maintaining life.
Secondary needs, while less urgent, are important for social and psychological well-being. These needs contribute to proper mental and emotional development but do not pose an immediate threat to survival if unmet. Examples of secondary needs include security, love, recognition, achievement, freedom, independence, and self-expression.
Tertiary needs are generally higher-level or specialized needs that go beyond the immediate and social layers. While not explicitly outlined as urgent needs, tertiary needs can be interpreted as advanced or specialized requirements reflecting personal growth, education, or medical care.
A want, on the other hand, is not a routine expense, unlike needs, and is used to make life more comfortable or maintain an image. Wants vary between individuals and are influenced by personal tastes, culture, experiences, marketing, and others' opinions. For instance, while food is a basic need, eating in a fancy restaurant can be a want. Similarly, consuming fruits and vegetables is a way to get vitamins and minerals, while consuming cheese can be a desire due to financial limitations.
In traditional societies, education was not a basic need, but in modern society, it has become essential and is often provided by the government. This shift highlights the evolving nature of needs, which are constantly influenced by factors such as social, environmental, economic, political, and cultural circumstances.
In daily life, protection, access to health care, and education are essential for maintaining an adequate standard of living. These needs, while not primary, are crucial for long-term survival and personal development. For example, going to school not only expands knowledge and skills but is also a prerequisite for applying for jobs, making it difficult to meet other needs such as food and clothing without education.
Maslow's hierarchy of needs, a famous psychological model, consists of five levels: physiological, safety, love and belonging, esteem, and self-actualization. This hierarchy provides a visual representation of the interconnectedness of our needs, with physiological needs forming the base, followed by safety, love and belonging, esteem, and self-actualization needs at the top.
In conclusion, understanding the difference between needs and wants is crucial for prioritising our resources and ensuring that our most immediate life-sustaining needs are met before addressing our psychological and social aspirations. By recognising the urgency and importance of each need, we can make informed decisions about how to allocate our resources effectively.
Fashion-and-beauty products and services could be considered as tertiary needs, as they contribute to self-expression, a form of personal growth reflected in the hierarchy of needs. Education-and-self-development, on the other hand, can be seen as a secondary need, essential for long-term survival and personal development, as it opens up opportunities for better employment, leading to the ability to meet primary needs like food and shelter. Learning, a key part of education, is therefore integral to maintaining an adequate lifestyle.
