According to Psychologist Abraham Maslow, the Basic Level of Human

question 19

Multiple Choice

According to psychologist Abraham Maslow, the basic level of human needs includes all of the following EXCEPT ________.

• A)physiological needs.
• B)need for food.
• C)need for love.
• D)need for clothing.
• E)need for shelter.

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Definitions:

Positive Externalities

Benefits that are enjoyed by a third-party or the society at large, as a result of an economic transaction.

Socially Optimal Level

The socially optimal level is the quantity of production or consumption where the marginal social cost equals the marginal social benefit, maximizing overall welfare.

Policymakers

Individuals or groups responsible for making decisions and establishing regulations that guide the economic, social, and political governance of a society.

Marginal Benefit

The plus in satisfaction or usefulness someone gets by consuming an extra unit of a given product or service.