Food | Water |
Shelter | Clothing |
Healthcare | Education |
Employment | Transportation |
Media | Energy |
Financial Services | Insurance |
Social Infrastructure | Housing |
Sanitation | Personal Hygiene |
Personal Care | Communication |
Digital Access | Safety |
Security | Technology |
Information | Recreation |
Leisure | Entertainment |
Discussion
Over time, more and more human needs are viewed as economic needs. This is a process known as commodification whereby elements of the human experience are increasingly turned into goods and services to be sold on markets. For example, communication was historically a process of talking to your neighbor or sending a messenger. In modern life, this often depends on goods and services such as smartphones, internet infrastructure, voice communications, emails, direct messages and social media.Overview
Economic needs are human needs that are met by economic production meaning that they are created by societies. This includes both public goods such as a public school and market goods that are created by private enterprise.
Summary
Economic needs are goods and services that are viewed as necessary to human quality of life and thriving.
