Needs That We Try to First Fulfill Are Called ____,While

question 206

Multiple Choice

Needs that we try to first fulfill are called ____,while needs at a higher level are termed ____.

• A) fulfillment needs; higher needs
• B) deficiency needs; growth needs
• C) primary needs; secondary needs
• D) elementary needs; secondary needs

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Definitions:

Opportunity Cost

The foregone benefit that would have been derived by choosing an alternative option.

Differential Cost

A future cost that differs between any two alternatives.

Variable Cost Per Unit

The cost that varies with each unit produced, not including fixed costs.

Units Sold

The total number of units of a product that have been sold during a particular period.