Increased Demand for a Product or Service Will Usually Result

question 121

True/False

Increased demand for a product or service will usually result in lower prices for the item.

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Definitions:

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, which outlines a five-tier model of human needs, categorized into physiological, safety, love/belonging, esteem, and self-actualization needs.

Basic Priority

The fundamental level of importance or urgency assigned to tasks or concerns that need to be addressed first.

Self-actualization

A concept in psychology referring to the realization or fulfillment of one's talents and potentialities, considered as a drive essential to human beings.

Jehovah's Witness

Members of a Christian denomination known for their door-to-door evangelism, refusal of blood transfusions, and non-participation in secular government.