Human wants are endless but human needs are not

Answer
You're correct. Human wants are considered unlimited or endless, while human needs are limited and finite. This is a fundamental economic principle that stems from the scarcity of resources relative to our desires. Needs refer to the basic requirements for survival and wellbeing, such as food, water, shelter, clothing, and healthcare. These are finite and can theoretically be satisfied. On the other hand, wants are desires beyond basic needs, which are shaped by factors like culture, habits, and social influences. Wants are insatiable - as one want is fulfilled, new ones emerge. This distinction between unlimited wants and limited needs underpins the economic problem of allocating scarce resources efficiently. Since resources are scarce relative to our endless wants, we must make choices about how to allocate them optimally. The principle drives economic behavior, consumption patterns, and the constant pursuit of more goods and services to satisfy ever-evolving wants.
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