Livestock Economics, Marketing and Business Management

CHARACTERISTICS OF WANTS

Wants are unlimited

• As soon as one want is satisfied another want comes up in it's place.

Wants vary in their intensity

• Wants differ in importance. Some wants are more urgent and others are less urgent wants.

Wants are satiable

• A single want can be satisfied at a particular time.
• If a person is hungry he can satisfy his want fully by taking sufficient amount of food.

Wants are recurrent

• Wants get themselves repeated at interval of short or long period.

Wants are alternative

• A person can substitute coffee in the place of tea.

Wants are competitive

• For a hungry person wants for food is more urgent than anything else.
• The most urgent wants takes the first position with satisfaction and the less follows.

Wants are complementary

• To satisfy particular want we need several things.
• For eg. If a person wants to write a letter he needs pen, paper, ink etc.

Wants tend to become habits