A Change in the Quantity Demanded of a Product Cannot

question 256

Multiple Choice

A change in the quantity demanded of a product cannot be the result of a change in:

• A) the buyer's preference.
• B) consumer income.
• C) the price of related goods.
• D) All of the above are correct.

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Definitions:

Deficiency Needs

pertain to basic requirements for physical and psychological well-being, as identified in Maslow's hierarchy of needs, including safety, love, and self-esteem.

Growth Needs

Psychological desires that drive individuals to achieve personal expansion and progress.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, structured as a hierarchy of human needs ranging from basic physiological needs to self-actualization, dictating motivational drivers.

Esteem Needs

A level in Maslow's hierarchy of needs that includes respect, self-esteem, and recognition from others.