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What are characteristics of human wants?

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Characteristics of human wants include;

  • They are insatiable - cannot be fully satisfied because they are endless/unlimited
  • They vary in intensity and urgency - The amount of goods/services required vary from one person to another depending on age, sex and situation
  • They are competitive - wants compete for attention such as each one yearns to be satisfied first
  • They are recurrent/ repetitive - a particular want will demand to be satisfied over and over again
  • Some are universal - most of wants are common to all human beings though in varying quantities.
  • They require resources- human wants require means for them to be satisfied.
  • They are complimentary - Satisfaction of human wants may create a need, second want derived from first one.
  • They are habitual - Once an individual has developed a taste for a given commodity he tends to use it over and over again.
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