Examlex
If the percentage change in quantity demanded of a good is less than the percentage change in buyer's income, then the good is said to be
ERG Theory
A theory on human motivation that categorizes needs into three groups: Existence, Relatedness, and Growth.
Existence Needs
Refers to the basic physiological and safety needs of individuals, such as food, water, shelter, and security.
Growth Needs
Psychological desires that drive individuals to seek challenges, self-improvement, and personal development.
Motivator Factor
Elements of work or conditions that can significantly increase job satisfaction and motivation, as per Herzberg's motivation-hygiene theory.
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