An Economic Model Includes

question 2

Multiple Choice

An economic model includes

• A) only normative statements.
• B) no use of marginal concepts.
• C) all known details in order to increase its accuracy.
• D) only details considered essential.

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Definitions:

Valence

The worth or attractiveness of an outcome.

Higher-Level Needs

Intrinsic desires or aspirations that go beyond basic physiological or safety requirements, often related to self-actualization, esteem, and social belonging.

Motivating Workers

The process of inspiring employees to achieve high performance and exceed their work-related goals.

Employee Affinity Group

Groups within an organization formed around shared interests, characteristics, or experiences, aimed at fostering a diverse and inclusive workplace.