Research Suggests That People with a High Need for Achievement

question 495

Multiple Choice

Research suggests that people with a high need for achievement tend to have a __________ need for success and a _____________ fear of failure.

• A)high; high
• B)low; low
• C)high; low
• D)low; high

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Definitions:

Natural Monopoly

A market condition where due to high fixed or startup costs, a single firm can supply a good or service to an entire market at a lower cost than multiple companies.

Network Effects

Increases in the value of a product to each user, including existing users, as the total number of users rises.

Price Discrimination

The strategy of selling the same product to different customers at different prices based on willingness to pay, rather than differences in production costs.

"Fair Return" Price

A price set at a level intended to allow a firm to cover its costs and earn a reasonable profit, often regulated in public utility sectors.