According to Abraham Maslow's Hierarchy, Which Needs Must Be Met

question 220

Multiple Choice

According to Abraham Maslow's hierarchy, which needs must be met first?

• A) esteem
• B) safety
• C) physiological
• D) belongingness and love

Recognize the relationship between the current account and the capital and financial account.

Acknowledge the disadvantages associated with flexible exchange rates.

Understand the impact of taste changes and other determinants on the value of a nation's currency.

Analyze the effects of currency appreciation and depreciation on international trade and economic conditions.

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Definitions:

Demand Increases

A situation where consumers are willing and able to purchase more of a product or service at the same price, shifting the demand curve to the right.

Supply Decreases

This term describes a situation in which the quantity of a good or service that producers are willing and able to offer for sale at various prices diminishes.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in market balance.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the market equilibrium price.