| A | B |
|---|
| wants | Things that you do not have to have to survive, but would like to have. |
| needs | Things that you must have in order to survive. Examples are food, water, clothing, and shelter. |
| Public Wants | Wants that are widely shared by many people including such things as highways, public libraries and parks (Paid for by taxes) |
| Examples of Public wants | schools, libraries, roads |
| Private wants | Wants that families, businesses, and individuals have. |
| Goods | Physical Products such as skates, groceries, and telephones are examples |
| services | Tasks that businesses perform for consumers such as lawn maintenance, tax preparation, tourism, and banking.. |
| resources | Items that people can use to make or obtain what they need or want. Some examples of are money, fuel, and labor. |
| The Decision Making Process | This helps people to make good choices by identifying and considering your various alternatives and consequences before making a final decision. |
| Examples of private wants | A new baseball glove for an individual, a new cell phone for an individual, or a new cash register for a business. |
