Human life is full of desires and wants and human activity is involved in satisfying these wants and needs. Wants and needs in our life are related to social, political religious and economic. Economic wants are all those needs or desires of human beings which require the use of wealth for their satisfaction. Social, political wants too can be satisfied only with wealth income or economic support. Hence it is the economic wants which ultimately assume importance in family needs or desires in social, political or any other fields. All type of wants have economic content in so far as their fulfillment is concerned, wants lead to economic efforts. MEANING OF WANT: Wants are usually more temporary wishes or growing. These wants can be controlled. These wants are considered as goods if they last for longer time or recurrent.
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