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In reading about different theories of personality in Chapter 14, you learned that one of the founders of humanist psychology was Abraham Maslow. According to Maslow, psychology focused too much on hostility, instincts, and repressed concepts (psychoanalytic view) and on reinforcers, punishers, and specific behaviours (behaviourist view). Instead, he suggested, psychology should focus on positive aspects of human nature and the characteristics of individuals who are striving for love, esteem, and self-actualization. It is interesting to note that the behaviourist tradition (discussed in Chapter 7) has shed light on ways that are effective and ineffective in the development of self-esteem and the nurturance of intrinsic talents and interests. Analyze the research on intrinsic and extrinsic rewards in light of Maslow's humanist theory.
Product Demand
This term describes the consumers' desire and willingness to purchase a specific product or service at a given price within a specified time frame.
Marginal Revenue Product
The extra income resulting from the use of an additional unit of a production input, such as workforce or investment.
Product Price
The amount of money a customer must pay to acquire a specific product.
Additional Worker
Refers to the incremental human resource added to the workforce, potentially affecting productivity and costs.
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