Food, clothes , houses ,education and health are the basic human needs.
Various ways used to satisfy the basic needs are known as wants.

• Needs are limited and wants are unlimited.
• Needs are common and wants vary from person to person.
• Needs are biological and wants are related to social and cultural factors.
  As mentioned below ,there are two types of goods which can satisfy human
  needs.
•  Free goods ( non economic goods)
•  Economic goods
• The following characteristics could be highlighted in non economics goods
• There are no cost of resources and opportunity cost
• Unlimited receipt from nature under zero price
• The following characteristics could be found in economic goods
• Cost of resources and opportunity cost exist.
• Produced by the man combining productions factors.
• Even if a non economic good is obtained by incurring factor cost, it becomes an
  economic good.