Demand and Needs

Order-No. 5375

  • Social studies

Year of production: 2016
Duration: 07:00 minutes

By needs we mean the feeling of lacking something and wanting to remedy that lack. In economics we usually look at the demand, namely those needs that are specifically asked for on the market and that people are willing to pay for. Using examples and illustrative animations, this video explains the difference and also exemplifies, what goods are and how they serve to satisfy our needs.

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