Q.Describe the features of Human wants.

Human wants have several characteristic features: they are unlimited, a single want is satiable, they recur, and they are complementary, competitive and variable — features that underlie consumer behaviour.

The features of human wants studied in the Tamil Nadu HSC Class-11 Economics consumption chapter are:

1. Wants are unlimited — as one want is satisfied, new wants keep arising; total human wants can never all be met.
2. A particular want is satiable — although wants in total are unlimited, any single want can be fully satisfied at a point of time (basis of the Law of Diminishing Marginal Utility).
3. Wants are recurring — many wants (food, water) appear again and again.
4. Wants are complementary — some wants are satisfied together, e.g., a car and petrol, pen and ink. …