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How do people satisfy their needs and wants?

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How do people satisfy their needs and wants?

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People satisfy needs and wants buy purchasing things. For example buying a new pair of Air Jordan's or a new video game would satisfying a want. But satisfying a need would be purchasing food from the groceries store or clothing.

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Why is it relevant for you to understand the difference between needs and wants?

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Why is it relevant for you to understand the difference between needs and wants?

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So that you can prioritize what you should really be spending your money on. When you are on a budget, it is important to know what is really necessary and what is just a want and can be saved for a future time.

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Wants

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Needs

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my favorite color

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my favorite clothing brand

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my favorite pair of shoes

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Chipotle is my favorite resturant.

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My favorite food is pizza.

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This is my dream car

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I like listening to music.

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I would someday like to visit England

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This is the college i would like to attend 

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This is the college i would like to attend 

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I run Track and Field

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I play video games

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Im a big Met fan.