03 Explain one reason why a new start-up business might find it easier to satisfy needs rather than wants.

[Haiderabbas]

KN: New start-ups often satisfy needs easier because basic goods/services have stable demand and lower complexity.
APP for e.g a new café providing simple coffee meets the basic need for food/drink rather than niche gourmet orders.
AN Wants need more marketing and design, start-ups lack resources so they focus on predictable basic demand.

[Naveen fatima]

[KN]A start-up might find it easier to satisfy needs because needs are essential items people must buy, such as food, clothing, or basic services.
[APP] For example, if a new business sells affordable bread, customers will still purchase it because it is necessary for daily life.
[AN]This makes it easier to attract customers since needs create steady demand. It also reduces the risk of people cutting back on purchases during tough times. In addition, customers may prioritise buying needs first before spending on wants, helping the start-up gain regular income.

[SofiaRazaKhan]

[KN] Needs usually have steady demand and are often cheaper to produce compared to wants, which are more luxury-based and harder to sell.
[APP]For example, a new business could sell basic clothing items such as plain shirts or trousers. These are essential products that people buy regularly, meaning there will always be customers looking for them, regardless of trends or brand names.
[AN] hence this makes it easier to sell regularly and earn steady income without spending much on marketing, helping the business survive in the early stages.

Examiner Comments:
KN is Good
APP is Good
AN is 2/3 elements

[masabtahir]

kn. because need have natural local demand rather than wants
app. for exp a grocery store sells simple food items but not the branded one
an. thus because of the reason is that its budget is low to provide expensive products to customer and easy to fulfill local needs to them as a start up it is easy to be providing needs as cheaper

updated

[Ruqyia Salman]

[KN] A new start-up business might find it easier to satisfy needs because they require less capital to produce compared to wants, which often need more innovation and marketing.
[APP] For example, a simple bread bakery can meet customers’ basic need for food using inexpensive equipment and ingredients.
[AN] This means the business can operate with lower costs and doesn’t need to spend heavily on research, product development, or advertising, making it easier to survive and grow in the early stages.