Which of the following best describes wants?

Wants can be best described as benefits that enhance our quality of life but are not essential for our basic survival. Unlike needs, which encompass the fundamental requirements necessary to sustain life—such as food, shelter, and clothing—wants refer to the desires for goods and services that provide enjoyment or satisfaction beyond basic survival.

For example, while having a smartphone or a luxurious car can greatly enhance personal convenience and lifestyle, these items are not essential for living, distinguishing them from necessities. This aspect of wants is crucial in understanding consumer behavior and economics, as it helps explain why individuals and societies prioritize certain goods and services despite the limitations of resources.