A Need for Affiliation Is a Need to ________

question 85

Multiple Choice

A need for affiliation is a need to ________.

• A) be with other people
• B) belong to a group or organization
• C) be married or belong to a family
• D) be associated with a large corporation

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Definitions:

Long-Run Equilibrium

A state in economics where all firms and consumers have fully adjusted to all changes in the market, resulting in the optimal distribution of resources in the long term.

Purely Competitive

A market structure characterized by a large number of small firms, a homogeneous product, perfect knowledge, and free entry and exit, resulting in firms being price takers.

Allocative Efficiency

The optimal distribution of resources in an economy, ensuring that each good or service is produced up to the point where the last unit provides a benefit equal to the cost of producing it.

Perfectly Elastic

Describes a situation in demand or supply where the quantity demanded or supplied changes by an infinite amount in response to any change in price.