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Automobile Manufacturers Produce a Range of Automobiles Such as Sports

question 29

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Automobile manufacturers produce a range of automobiles such as sports utility vehicles, luxury sedans, pickup trucks and compact cars. What fundamental economic question are they addressing by making this range of products?


Definitions:

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, arranging human needs in a hierarchy, suggesting people are motivated to fulfill basic needs before moving on to other, more advanced needs.

Self-actualization

The realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

Physiological

Pertaining to the functions and activities of living organisms and their parts.

Phenomenology

The study of individuals’ own unique, first-person, conscious experience.

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