Alderfer's ERG Theory Like Maslow's Hierarchy of Needs Theory Requires

question 4

True/False

Alderfer's ERG theory like Maslow's Hierarchy of Needs Theory requires an individual to satisfy a lower level need for a higher-level need to become the driver of a person's behavior.

Understand the concept of utility and how it drives consumer choices.

Apply the utility maximization principle to determine optimal consumption bundles.

Calculate the effects of changes in income on consumption choices.

Understand and calculate the marginal rate of substitution (MRS) and its role in consumption decisions.