Explain the ancient Indian approach in terms of requirements.
Ancient economy says that humans have unlimited needs and all the needs cannot be filled as means to fulfil human needs are limited when one need is fulfilled, other needs arise and when humans are unable to fulfil them, they become unhappy. It says that how much money a person can get, he can never be satisfied with that money as needs keep on arising, it is like stomach is filled after taking food, but desire to eat continuously, A person should create his livelihood through knowledge and hard work so that poverty and scarcity does not exist in society as needs cannot be fulfilled by poverty.
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