Tag archive for ‘demand’
Needs, Wants and Demand – What Are the Differences?
Products and services typically fall into one of two categories for the consumer, needs and wants. Needs are those things that are essential, such as food, water, medicine, etc. Wants are those things that are not needs, but would be nice to have.
Consumers typically accept the costs associated with filling needs as inescapable, even though [...]