If a Good or Service Satisfies a Human Need, It

question 84

Multiple Choice

If a good or service satisfies a human need, it has

• A) value.
• B) focus.
• C) magnitude.
• D) form.
• E) utility.

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Definitions:

Pluralistic Ignorance

A social psychological phenomenon where individuals mistakenly believe their thoughts, feelings, or behaviors are different from those of the group, leading to conformity despite private disagreement.

Social Value Orientation

An individual's preferences when allocating resources between oneself and others, which can influence behavior in social situations.

Competitive

A characteristic of entities that strive against each other to achieve a goal, such as winning a game or dominating a market.

Altruistic

Showing selfless concern for the well-being of others; behaviors or actions motivated by the desire to help without expecting anything in return.