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'A living wage provides for needs not wants.' www.livingwage.ie Explain the difference between needs and wants - Junior Cycle Business Studies - Question 3 - 2019

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'A living wage provides for needs not wants.' www.livingwage.ie Explain the difference between needs and wants. Give an example in each case. Example of nee... show full transcript

Worked Solution & Example Answer:'A living wage provides for needs not wants.' www.livingwage.ie Explain the difference between needs and wants - Junior Cycle Business Studies - Question 3 - 2019

Step 1

Explain the difference between needs and wants.

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Answer

A need is an essential requirement for survival, something that we cannot live without. Examples of needs include water, food, shelter, and clothing, which are fundamental for maintaining life.

On the other hand, a want is something that is not essential for survival, but can improve our quality of life or provide enjoyment. Wants are items we desire, such as the latest smartphone or luxury items. They make life easier or more enjoyable but are not necessary.

Step 2

Example of need:

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Answer

Water is a basic need for human survival. Without access to safe drinking water, our health and life can be threatened.

Step 3

Example of want:

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Answer

An iPhone is an example of a want. While it can enhance communication and provide entertainment, it is not essential for basic life functions.

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