What is the role of needs in the economy?
| November 17, 2020 | education
The economy is oriented towards human needs. They are fundamental to the economy. Needs determine demand, and demand creates supply. Whole studies and polls are being conducted in order to identify human needs and develop in directions that people will be interested in. The demand for a product sets its price.
For example, seasonal offers are always demand-driven. Nobody will sell felt boots or fur coats in the summer. If it does, then with a big discount. A person does not have such a need in the warm season.
One of the components of a person's success in our time is receiving modern high-quality education, mastering the knowledge, skills and abilities necessary for life in society. A person today needs to study almost all his life, mastering everything new and new, acquiring the necessary professional qualities.
