Final answer:
Needs refer to a state of felt deprivation and are essential for survival, including food, clothing, and shelter.
Step-by-step explanation:
The term needs refers to a state of felt deprivation, which is a basic requirement for survival and includes essentials such as food, clothing, and shelter. Unlike wants, which are ways of expressing needs (e.g., wanting pizza as a way to satisfy the need for food), and demand, which is the amount of a good or service consumers are willing and able to purchase at a given price, needs indicate the fundamental necessities required to sustain life.