Which of the Following IS NOT a Situation When Buyers

question 6

Multiple Choice

Which of the following IS NOT a situation when buyers will have increased power over sellers in a market?

• A) when there are a large number of sellers in the market
• B) when there are many substitutes for the product
• C) when product demand is high
• D) when the economy is weak
• E) when product supply is plentiful

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Definitions:

Esteem Needs

A concept in psychology that refers to the human desire for respect, self-esteem, and recognition from others, being part of Maslow's hierarchy of needs.

Extrinsic Rewards

Incentives provided by external sources, such as money, promotions, or recognition, that motivate individuals to perform certain behaviors or achieve goals.

Lower-Order Needs

refer to basic human requirements such as safety, physiological needs, and security, primarily described in Maslow's hierarchy of needs.

Maslow's Hierarchy

A psychological theory proposing that humans are motivated by five basic categories of needs: physiological, safety, love/belonging, esteem, and self-actualization, in that order.