Share This Article:

Economic Definition of unlimited wants and needs. Defined.

Offline Version: PDF

Term unlimited wants and needs Definition: A characteristic of people such that they are never totally satisfied with the quantity and variety of goods and services. This is one half of the fundamental problem of scarcity that has plagued humanity since the beginning of time. The other half of the scarcity problem is limited resources. Unlimited wants and needs essentially means that people never get "enough"--that there's always something else that they would want or need.

 

« unlimited liability | unplanned investment »

Permalink: https://glossary.econguru.com/economic-term/unlimited+wants+and+needs

Alphabetical Reference to Over 2,000 Economic Terms