How do you personally define a need, and what is a want

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Question: In Economics, the importance of needs vs. wants is discussed, in light of this week's objectives regarding financing, how do you personally define a need, and what is a want?

For example, your cell phone: is this a need or want? List some examples and why. I would like to see no less than 5 examples here for credit.

Reference no: EM133409348

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