Why do people buy? Distinction between wants and needs

Every generation needs a revolution - an entrepreneurial revolution

Why do people buy?

1.  Is it due to wants or needs?

     Needs are basic:   biological, food, shelter, self actualization

     Wants are minute distinction in needs.  It is an area where marketers work

2   People buy because  of

    1. Emotion  not logic.   Because of pride, anger, jealousy, avarice

    2.  Scarcity  --  last one, limited time, limited stock, offer  -- thus we hoard, stockpile

    3.  Threat  - safety of family, home, during typhoon, earthquake, medical emergencies, death

    4.  Authority -  experts say, Professor So and so endorsed   endorsed by Pamet

Why did you buy something?  Did anyone of these affect your buying decision

Spending more time in politics dissipates energy that should be devoted to growth and nation bullding

Every generation needs a revolution - an entrepreneurial revolution

We see that much more media time is devoted to Senate and Congressional hearings, investigations.  Less on activities that build the nation and create jobs and employment. For the executive bickering power play with past admin?   Rumors of power grab?    Preparing for the forthcoming election?

Some inquiries are outright destructive to building and creating national wealth

Who will rationalize, control these wasteful activities.  

Decline (and closures) in pandemic induced new businesses

Every generation needs a revolution - an entrepreneurial revolution

This post has observed decline and closures in businesses that flourished during the pandemic:

        1,  Coffee shops

        2.  Eateries

        3.  On line shops

        4.  Courier delivery services

        5.  Bicycles

Some industries flourish because of crisis.  When crisis is gone, the opportunity and the opportunity, and hence the business disappears.