Answer to Question #160707 in Microeconomics for krish pandey

Question

“Wants are unlimited and keep on changing yet a single Want is satiable” Can you explain what does this statement imply? 

Answer 1

Human Wants or Needs

The statement means that human beings want or need to keep on changing, and they are unlimited. Most of them want to have basic needs, and when they are achieving that, they keep on struggling for better things. For example, they may want to eat better food and wear better clothes. Therefore the needs are limited, and man cannot be contented with what he achieved. He or she will struggle to get better things in life. That is why people wake every morning to look for more money even when they have a lot of wealth.