How Do Needs Theories of Motivation and Process Theories of Motivation

question 84

Essay

How do needs theories of motivation and process theories of motivation differ?

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Definitions:

Diminishing

A principle indicating that as more of a good or service is consumed, the marginal benefit to the consumer decreases.

Behavioral Economics

A field of economic research that examines the effects of psychological, cognitive, emotional, cultural, and social factors on economic decisions.

Rational

In economics, refers to individuals making decisions that will provide them with the greatest benefit or satisfaction given their limited resources.

Budget Constraints

The limitations on a consumer's ability to purchase goods and services based on their income and the prices of goods and services.