Look at the tag on your shirt or the label on your backpack. You make choices
             About the clothes you buy and the music you download. When you buy snacks
             from the vending machine, you choose a product based on cost, taste, brand recognition, and supply. Guess what? You've just made business decisions. New products, higher prices, and the supply of products affect your family, friends, and you.
             Suppose you have $10. You could use it to buy lunch, a magazine, or go to a movie. What is the difference between what you want and what you need? How can you satisfy wants and needs with money you have available? Figure 1.1 asks you to think and write about your wants and needs.
             Wants are the things you wish you could have. Each person has wants. You might want a mountain bike, while your best friend may want a road bike. A group of people may also share the same wants. A family may want a new care, a company may want a more advanced computer system, or an athlete club may want to add a swimming pool. Although these wants are shared, they are considered private wants.
             On the other hand, some wants are widely shared by people. These wants are no longer considered private but become public wants, such as highways, drinking water, and education. For the most part local, state and federal governments satisfy public wants.
            
             Satisfying Wants and Needs with Goods and Services
             Necessary wants are needs. Food, shelter, and clothing are basic needs. Whether private or public, necessary or optional, some type of goods or services can satisfy most of your wants and needs. Goods can be physically weighed or measured. Bicycles and skates are good, as are groceries and telephones.
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