Answer:
A need is something that is needed to survive. A want is something that an individual desires, but would be able to live without. A primary distinguishing feature of a need is that it is necessary to sustain life.
The concept of needs and want helps to give check and balance to our spending.
Needs are basic amenities or materials that are individual cannot do without.
They are of necessity while want any not be needed immediately.
Therefore, The concept of needs and want helps to give check and balance to our spending.
Learn more on needs below,
https://brainly.com/question/4264848
#SPJ6
