Jordon Has Taken a Job That Is Extremely Dangerous, but That

question 169

Multiple Choice

Jordon has taken a job that is extremely dangerous, but that pays him enough so that he is sure he will have enough to eat and he will be able to sleep in a warm place each night. According to Maslow's hierarchy of needs, Jordon is probably primarily motivated by ​

• A)safety and security needs.
• B)cognitive needs.
• C)the need for self-actualization.
• D)physiological needs.

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Definitions:

Price-Discriminating Firm

A company that engages in the practice of charging different prices for the same product in different markets or segments.

Elastic Demand

Refers to a situation where the quantity demanded of a good or service significantly changes in response to a change in price.

Inelastic Demand

A situation where the demand for a good or service is not significantly changed by alterations in its price.

Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating how sensitive consumers are to price changes.