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What is the difference between a need, want and a demand?

What is the difference between a need, a want and a demand? Describe the need versus the want for the following products: Gatorade, Nike, iPod.

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Difference Between Needs, Wants, and Demands
Needs, wants, and demands are different for each individual. The ability to tell the difference between them is what sets them apart from each other. Let's take a look at each one:
1) Needs
These are things that are necessary or essential to live such as clothing, food, shelter, water, or medicine.
2) Wants
These are things that you would like to acquire but do not really need to live. You may have a strong desire for a particular item, job, or even a person. You want to live somewhere or you want to have a better job.
3) Demands
These are things that you can acquire and you also have the money to get.

Need Versus Want of Gatorade, Nike, and IPod
In order to address the need versus the want of Gatorade, Nike, and iPod, let's take a look at each one ...

Solution Summary

This solution discusses needs, wants and demands and applies them to Gatorade, Nike and the iPod in 533 words in an attached Word document.

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