Basic Economics: Brain food vs. brainless feeds

I never forget what my professor said when we were discussing needs and wants as part of basic Economics.

Need is something necessary to survive. A good or service that is required. It’s something we cannot live without.

Want is something that is not necessary but we wish for it or desire for it and is discretionary.

Here is something to ponder:

Today’s advice:

We must learn to distinguish among our basic needs, what we need in certain circumstances, and what we want.

Let me know what you think.

One thought on “Basic Economics: Brain food vs. brainless feeds

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