Identify the Determinants of "Demandingness" and "Responsiveness" That Are Required

question 50

Essay

 Identify the determinants of "demandingness" and "responsiveness" that are required for children to adequately meet their developmental needs.

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Definitions:

Marginal Utility

The extra pleasure or benefit gained by a consumer from using an additional unit of a product or service.

General Utility

The overall satisfaction or happiness derived from consuming goods and services. This term is a restated definition for "Total Utility."

Consumer Surplus

The difference in the overall amount consumers are willing and able to allocate for a good or service against the actual amount paid.

English Economist

An English Economist refers to an economist from England who specializes in the study of economics, the social science concerned with the production, distribution, and consumption of goods and services.