Chapter 01

Wants & Needs

Kindergarten

Some things you must have to live and grow. Other things are just nice to have. Learning to tell them apart is the very first idea in all of economics!

At a glance
Core ideaNeeds keep you alive and well; wants are the nice extras.
Key termNeed — food, water, shelter, clothing and being cared for.
You can…Sort any everyday item into "need" or "want."
Watch outA want can edge toward a need depending on how it's used.
Theory

Needs and wants

A need is something you must have to stay alive and healthy. There are only a few:

  • Food and water — to keep your body going.
  • A home — somewhere warm and safe to sleep.
  • Clothes — to keep you warm and dry.
  • Being cared for — by grown-ups who love and look after you.

A want is something that would be fun or nice to have, but you can still live a happy, healthy life without it — like a toy robot, candy, or a new video game. Wants are wonderful — but they can wait.

Needs

  • Required to live and stay healthy
  • Food, water, shelter, clothing, care
  • Come first when money is short
  • Only a few of them

Wants

  • Nice to have, but not essential
  • Toys, treats, games, trips
  • Can wait until needs are met
  • Almost unlimited
Explanation

Why we can't have every want

Grown-ups only have a little bit of money. They use it first for needs — food, a home, clothes — and if there is any left over, they can spend it on wants, like a fun toy. This is why you can't have every toy you see in a shop: there just isn't enough money for needs and every single want.

NEEDS Food Water A home Clothes Being cared for WANTS A toy robot Candy Video games A new bike A trip to the zoo
Needs keep you alive and well. Wants make life fun — but they can wait if money is short.
Practical

Try it: sort your own room

Step 1 — look aroundLook around your room right now. Point to one need (like your bed or a warm blanket) and one want (like a favourite toy).
Step 2 — sort six thingsAsk a grown-up to help you sort these into Need or Want: a coat, a lollipop, dinner, a video game, shoes, a comic book.
Step 3 — check your answersNeeds: coat, dinner, shoes. Wants: lollipop, video game, comic book. How many did you get right?
Step 4 — talk about itAsk a grown-up: "What is one thing our family needs this week, and one thing we just want?"
Q&A
Q1Is ice cream a need or a want?

A want! It's yummy and fun, but you can grow up healthy and strong without it. Food in general is a need — but a specific treat like ice cream is a want.

Q2Can a want ever become a need?

Sometimes! A phone might be a want for playing games, but for a grown-up who needs it to call for help or do their job, it can become closer to a need. It depends on how it's used.

Q3Why can't we just buy every want?

Because money is limited — nobody has an endless amount. Needs come first, and wants come after, if there's enough left over. That's why we choose carefully!

Concept mind map

How the ideas connect

Every key idea in this chapter, branching from the core concept — use it to see the whole picture at a glance.

Needs to liveWants (nice tohave)Food, water,shelterToys and treatsTell them apartChoosing whatmattersWants & Needs
Infographic

The key facts, visualised

Need
something you must have to live and stay well
Want
something nice to have but not needed to live
Food
a need -- your body must have it
Toy
a want -- fun, but you can live without it
Solved examples

Worked problems, step by step

Follow each solution line by line, then try to reproduce it on paper before moving on.

Example 1Is drinking water a need or a want?

  1. Ask: can you stay alive and healthy without it?
  2. Without water your body cannot work, so you must have it.
  3. That makes it a need.

Example 2Is a video game a need or a want?

  1. Ask: do you need it to live and stay healthy?
  2. You can be safe and well with no video game.
  3. It is only nice to have.
Practice problem set

Now you try

Work each one out first, then tap to reveal the worked answer.

1A warm coat in winter -- need or want?
A need -- it keeps you warm and safe when it is cold.
2A bag of candy -- need or want?
A want -- it is a treat you can live without.
3A place to sleep (home) -- need or want?
A need -- shelter keeps you safe and dry.
4A new pair of fancy sneakers when yours still fit -- need or want?
A want -- your feet are already covered, so the new pair is just nice to have.
5Why can we not have every want we think of?
There is not enough money and stuff for everything, so we choose the needs first.