All of the Following Statements About Maslow's Hierarchy of Needs

question 28

Multiple Choice

All of the following statements about Maslow's hierarchy of needs are true EXCEPT

• A)People have six basic type of needs.
• B)People have basic needs that follow a hierarchy from lower level to higher level needs.
• C)People first seek to satisfy lower level needs and then move to higher level needs.
• D)All of the above are true.

---

Definitions:

Competitive Level

The point where an entity can effectively compete in the market, usually by matching or surpassing competitors' offerings.

Consumer Surplus

The gap between the total price consumers are ready and able to pay for a good or service versus what they actually spend.

Producer Surplus

The difference between the amount a producer is willing to accept for a good or service versus what they actually receive, usually resulting from market prices above minimum selling prices.

Deadweight Loss

The loss of economic efficiency that can occur when the free market equilibrium for a good or a service is not achieved, leading to a loss of total welfare or economic surplus.