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Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. English Language & Usage Stack Exchange is a question and answer site for linguists, etymologists, and serious English language enthusiasts. Needs are distinguished from wants because a deficiency would cause a clear negative outcome, such as disfunction or death.
To most psychologists, need is a psychological feature that arouses an organism to action toward a goal, giving purpose and direction to behavior.
The noun necessaries (“Necessary or indispensable items” - wiktionary) comes close to answering the question. To a person in a so-called "third world country" where the per capita income is perhaps $600 a year, what an average American considers to be a need (e.g., a car) looks more like a greed!
Granted, the superstar athlete might concede that he could just as easily "make do" with a vehicle which gets him from point A to point B, and so his pricey sports car, he'll admit, is a want and not a need. Similarly, the third-world person I spoke of in the first paragraph might consider one meal a day, a roof over his head, potable water, and clothes on his back all that he needs.

I think the word you might be looking for, which kind of summarizes what a person feels who has all that he needs, is contentment. In conclusion, differentiating between basic necessities and wants (or needs and greeds) is a tricky business, except for a person living in grinding poverty.
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Needs can be objective and physical, such as food, or they can be subjective and psychological, such as the need for self-esteem.

Understanding needs and wants is an issue in the fields of politics, social science, and philosophy. And the same goes for an average American with an average income to whom the luxury sports car belonging to a superstar athlete looks more like greed than need. Yet, interestingly, some people who exist at that bare subsistence level will still consider tobacco to be a need, when clearly it is not. To many people--and not just upwardly mobile people, contentment can be quite elusive, however. As someone once said, fasting is a luxury for the rich; for the truly poor it is a daily occurrence, and it's called starving! In a capitalist system, for example, where people feel that hard work and risk taking should be rewarded with all kinds of perks (read: wants, and lots of them), sometimes even "too much is not enough"!

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