BUSINESS STUDIES FOR JSS2 SECOND TERM

SUB -THEME: COMMERCE-THE HEART OF BUSINESS

WEEK 8

Shopping Tips (Needs and wants)

 Performance objectives:

Students should be able to:

Differentiate between needs and want

Meaning of needs and wants

Wants may be defined as mere desire, wishes or ends of human beings not backed by the ability to PAY. Wants are those goods and services that people will like to have to improve the quality of their lives. Human wants are insatiable Examples, cars, houses, mobile phones, snacks, e.t.c.

Needs refers to those goods and services that are essential. Basic needs of man are food, shelter and clothing. Needs range from basic survival need,  necessity, intellectual and social needs. Basic needs must satisfy in sequence order.

Differences between needs and wants