Explain the relationship of security needs and wants Aconomics
Answer (1)
In Economics, needs are things that are necessary for survival, like food, water, shelter, and safety. Wants are things we desire but can live without, like gadgets, branded clothes, or vacation trips.Security is considered a basic need. It includes physical safety, financial stability, and protection of property. When security is met, people feel more comfortable aiming for their wants.Relationship:If people feel secure (safe home, job, savings), they can now focus on spending for wants.If there's no security (like during war or crisis), people prioritize needs only and ignore wants.
