Which of the Following Is a Difference Between Situational Needs

question 63

Multiple Choice

Which of the following is a difference between situational needs and social needs?

• A) Unlike social needs, situational needs are the need for acceptance from and association with others.
• B) Unlike social needs, situational needs are a result of conditions related to a specific environment, time, and place.
• C) Unlike situational needs, social needs reflect the desire for feelings of risk reduction.
• D) Unlike situational needs, social needs represent the need for a specific core task to be performed.
• E) Unlike social needs, situational needs represent the desire for personal development, information, and knowledge.

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Definitions:

Demand Curve

A chart that displays how the cost of an item correlates with the amount of that item buyers are prepared to buy at different price levels.

Unregulated Monopolist

A monopoly that operates without regulatory oversight, setting prices and output levels without external control.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, representing the financial gain in excess of the opportunity costs of resources used.

X-Inefficiency

The difference between efficient behavior of enterprises assumed or implied by economic theory and their observed behavior in practice, often due to a lack of competitive pressure.