A Change in the Supply of a Good Can Result

question 92

Multiple Choice

A change in the supply of a good can result from a change in _____.

• A) technology
• B) price
• C) consumers' income
• D) the tastes and preferences of the consumers

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Definitions:

Motivational Theories

A set of theories in psychology that attempt to explain how people are motivated to achieve certain goals and how this motivation influences their behavior and performance.

Maslow

Refers to Abraham Maslow, an American psychologist known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs in priority, culminating in self-actualization.

McGregor

Refers to Douglas McGregor, a social psychologist who proposed the X and Y theory, suggesting that there are two fundamental approaches to managing people.

Function

The natural action or intended purpose of something or someone.