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Needs
Things that we need to remain alive and perform daily tasks
Wants
things that we aspire to have in addition to our needs; optional
Hierarchy of Needs
ABRAHAM MASLOW'S THEORY OF HUMAN MOTIVATION
Abraham Maslow's Hierarchy of Needs
DESCRIBES THE RANKING OF NEEDS OF AN INDIVIDUAL; WHEN ONE TIER OF NEEDS IS FULFILLED, AN INDIVIDUAL'S LEVEL OF NEEDS GOES UP
What are the needs stated in Maslow's Hierarchy of Needs in order from bottom to top?
PHYSIOLOGICAL NEEDS
FOOD, WATER, WARMTH, REST, REPRODUCTION
SAFETY NEEDS
MONEY, RESOURCES, SHELTER, SECURITY
SOCIAL NEEDS
FAMILY, FRIENDS, COMMUNITY, RELATIONSHIPS
ESTEEM NEEDS
SELF-CONFIDENCE, RESPECT, EXCELLENCE, ACCOMPLISHED
SELF-ACTUALISATION
PERSONAL GROWTH, POTENTIAL ACHIEVING, PEAK PERFORMANCE
FACTORS OF NEEDS AND WANTS
AGE AS A FACTOR OF NEEDS AND WANTS
As people grow older, needs and wants may change and grow. Experiences in life allow them to become more aware of the greater world around them.
EDUCATIONAL ATTAINMENT AS A FACTOR OF NEEDS AND WANTS
Highly educated person can be more discerning of the goods and services that he or she uses to satisfy different needs and wants
INCOME AS A FACTOR OF NEEDS AND WANTS
As income increases, a person can buy and enjoy goods and services that he or she needs and wants quicker
SOCIAL STANDING AS A FACTOR OF NEEDS AND WANTS
A person higher in ranking may want higher quality needs and wants to make life more comfortable
TASTE AS A FACTOR OF NEEDS AND WANTS
personal taste/preferences determine person's needs and wants
ENVIRONMENT AND CLIMATE AS A FACTOR OF NEEDS AND WANTS
Physical surroundings and climate influence a person's needs