26 Types of Economic Needs

John Spacey, updated on April 15, 2024

Economic needs are the goods, services and resources that individuals, households and communities require to sustain and advance their quality of life. Another way to say this is that economic needs are human needs that are satisfied by economic production. The following are common examples of economic needs.

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.