The document defines wants as a desire backed by the ability and willingness to satisfy that desire. It identifies three essentials of a want: the desire for an item, the ability to satisfy that desire, and a willingness to use means to purchase the item. Wants are then classified into three categories: necessaries, comforts, and luxuries. Necessaries are basic needs that must be satisfied, like food and shelter. Comforts improve efficiency but are not essential to life. Luxuries satisfy superfluous desires and are considered wasteful spending.

1. PRESENTATION ON :-
WANT

2. MEANING :-
Want is that desire which is that backed by the
ability and willingness to satisfy it.
In ordinary language want & desire are used in
same sense but there is clear distinction between
them.
Desire is conscious longing of a thing.

3. THREE ESSENTIALS OF WANT :-
1. Desire of an article .
2. Ability satisfy it.
3. Willingness to use the means for purchase of that
article.

4. CHARACTERISTICS :-
1. Wants are unlimited.
2. Wants recur (re-emerge).
3. A given want can be satisfied at a point of time.
4. Wants are complementary.
5. Wants are competitive.
6. Wants have alternative means.

5. CLASSIFICATION :-
A. Necessaries
B. Comforts
C. Luxuries

6. A. NECESSARIES :-
Necessaries are those wants which must be satisfied.
The good which are used to satisfy basic needs of
humans.
Eg:- reasonable amount of plain wholesome food,
decent clothing and healthy home surroundings.

7. CLASSIFICATION OF NECESSARIES :-
a) Existence :-
 These are the necessaries which are essential for living.
 Human existence is not possible without fulfilling the
necessaries of existence.
 e.g. Food, water, clothes, shelter, etc.

8. b. Efficiency :-
 These are not as essential as those of necessaries of existence,
but at the same time essential improving the efficiency of an
individual.
 E.g. Nutritious diet, table and chair to student, classroom with
good ventilation, etc.

9. c. Conventional :-
 These are the necessaries, which arise out of customs
or habits.
 The customs prevailing in a society influence the
individuals to follow them.
 E.g. customs like celebration of functions and habits
like smoking, drinking, gambling, etc.

10. B. COMFORTS :-
 Comforts are those which fall between necessaries and
luxuries.
 Man is not satisfies with fulfilling necessaries only.
 The comforts also increase the efficiency.
 E.g. Cushion chairs in classroom, revolving chair in
saloons, fans in house / office.

11. C. LUXURIES
 Luxuries are those which satisfy superfluous wants of
individual.
 These are neither essential for life nor increase the efficiency.
 Luxuries represent wasteful expenditure of the individuals.

12. CLASSIFICATION OF LUXURIES :-
a) Harmless :-
 Expenditure on which will not cause any harm to the individual.
 E.g. well-furnished bungalow, expensive food habit, etc.

13. b) Harmful :-
 These are injurious to the health of the users.
 E.g. alcohol, smoking, etc.
c) Defence :-
 Those which protect the users during the period of
crisis.
 E.g. expenditure on gold ornaments, Jewellery, etc.