NURSING ANM AND GNM

Detailed explanation-1: -Economics is the study of scarcity and its implications for the use of resources, production of goods and services, growth of production and welfare over time, and a great variety of other complex issues of vital concern to society.

Detailed explanation-2: -In economics, a need is something needed to survive while a want is something that people desire to have, that they may, or may not, be able to obtain. The terms wants and needs are used in today’s economy, and not always accurately.

Detailed explanation-3: -We have to fulfill our needs because they are essential for our daily life. We do this by buying goods and services. An example is our need for food, water, and shelter.