Which of the Following Describes the Ordering of Needs,based on Their

question 108

Multiple Choice

Which of the following describes the ordering of needs,based on their presumed strength or potency?

• A) Yerkes-Dodson law
• B) need-response cycle
• C) Cannon-Bard theory
• D) hierarchy of human needs

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Definitions:

Efficiently Allocated

A situation where resources are distributed in a manner that maximizes the overall benefit to society or an economy, with no way to improve anyone's condition without worsening someone else's.

Marginal Cost

The amount spent on producing one more unit of a good or service.

Average Total Cost

The per unit cost of production, calculated by dividing the total cost by the quantity of output produced.

Economic Profits

Economic profits consist of the total revenue generated by a business minus both its explicit and implicit costs, reflecting the actual profitability including opportunity costs.