Match the Following: -Physiological Needs

question 14

Multiple Choice

Match the following:
-Physiological Needs

• A)Basic needs for food and water.
• B)The assumption that people naturally resist change.
• C)Fulfillment of potential.
• D)Feeling of self-worth.
• E)Assumptions of how to manage individuals who are motivated by higher-order needs.

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Definitions:

Geographic Concentration

The phenomenon where certain industries or businesses are clustered in specific regions, often due to advantages like resources or skilled labor.

X-Inefficiency

X-Inefficiency occurs when a firm fails to use its resources efficiently due to a lack of competitive pressure.

Differentiated Oligopoly

A market structure in which a few firms dominate the market by selling products that are distinct yet somewhat substitutable, focusing on product differentiation to maintain competitive advantage.

Price Leadership

An informal method that firms in an oligopoly may employ to set the price of their product: One firm (the leader) is the first to announce a change in price, and the other firms (the followers) soon announce identical or similar changes.