Our Most Basic Needs, According to Maslow's Hierarchy of Needs

question 162

Multiple Choice

Our most basic needs, according to Maslow's hierarchy of needs, are:

• A)physiological needs
• B)safety needs
• C)belongingness needs
• D)self-actualization needs

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Definitions:

Negative Cross Elasticity

A situation where the demand for one product decreases as the price of another product decreases, indicating complementary goods.

Income Inelastic

Describes a good or service whose demand does not significantly change with a change in consumers' income.

Small Firms

Businesses with a relatively small number of employees or low volume of sales compared to larger industry players.