Explanation:

- Option 1: Wants are satiable.

- This means wants can be completely satisfied. However, in economics, human wants are considered insatiable because once one want is satisfied, another arises.

- Option 2: Wants are not competitive.

- This is incorrect—wants actually do compete for limited resources, because we cannot satisfy all wants at the same time.

- Option 3: Wants are limited.

- Incorrect—human wants are actually unlimited, but the means to satisfy them are limited.

- Option 4: Wants do not become habits.

- This is also incorrect. Many wants can indeed become habits due to repetition.

Correct Answer: NONE of the above options are true characteristics of human wants in economics. *But if you need to select the least incorrect, some exam systems may accept other reasoning, though all these are generally refuted by basic economic thought.*