Differentiate Between Innate and Acquired Needs

question 25

Essay

Differentiate between innate and acquired needs.Give an example of each.

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Definitions:

Monetary Policies

Policies undertaken by a nation's central bank to control the money supply and interest rates to achieve macroeconomic goals.

Gold Standard

A monetary system where a country's currency or paper money has a value directly linked to gold, ensuring stability in exchange rates.

U.S. Dollar

The official currency of the United States of America, commonly used worldwide as a reserve currency and standard for international trade.

Kenyan Shillings

The official currency of Kenya, which is subdivided into 100 cents.