State 6 Differences between needs and wants

1. A need is often a basic physiological response, while a want is preference.

2. A need is something that is required, while a want is not.

3. Not achieving a need can lead to death, while a want is not.

4. A need may remain stable over time, while a want will change as time passes.

5. Needs represent necessity, wants represent desires.

6. Needs are often things like water, food, etc., while wants are often manufactured goods or services.