External Needs and Relatedness Needs Are the First Two Categories

question 93

True/False

External needs and relatedness needs are the first two categories of needs in Alderfer's ERG theory.

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Definitions:

Economically Efficient

A situation in which resources are distributed in a manner that maximizes overall societal benefits.

Production Techniques

The methods and processes employed in the manufacturing of goods or provision of services, often aimed at improving efficiency and productivity.

Labor and Capital

The primary factors of production where "labor" refers to workforce efforts and "capital" denotes tools, machinery, and buildings used in production.

Creative Destruction

A process in which new inventions and technologies create new industries and ways of doing things, leading to the demise of older industries and practices.