Which of the Following Is a Difference Between Functional Needs

question 96

Multiple Choice

Which of the following is a difference between functional needs and psychological needs?

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

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Definitions:

Firm

An organization that produces goods or provides services, usually with the aim of making a profit.

Economic Profit

The difference between the total revenue generated by a business and the total costs, including both explicit and implicit costs.

Minimum Return

The lowest expected or required return on an investment over a specified period.

Long Run

A period of time in which all factors of production and costs are variable, allowing for all adjustments to take place in the analysis of economic conditions.