According to John Kenneth Galbraith, the Theory of Consumer Demand

question 15

Multiple Choice

According to John Kenneth Galbraith, the theory of consumer demand is based on the following broad assumption(s) :
I. Socialism will work in all societies because consumers are willing to share their wealth.
II. The urgency of wants does not diminish as more of them are satisfied.
III. Wants originate in the personality of the consumer.

• A)I only
• B)I and II
• C)III only
• D)II and III

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Definitions:

Guillain-Barré Syndrome

A rare neurological disorder where the body's immune system mistakenly attacks part of its peripheral nervous system.

Receptor

A protein molecule that receives and responds to a chemical signal, like a hormone or neurotransmitter, on a cell's surface or inside the cell.

Synapse

The junction between neurons where information is transmitted from one neuron to another.

Interneurons

Neurons that transmit signals between other neurons, especially as part of reflexes or neural networks.