The _____ Comprises One-Third of the American Population and These

question 88

Multiple Choice

The _____ comprises one-third of the American population and these consumers want to make purchases that are cost-efficient,fashionable,and popular.

• A) lower Americans
• B) upper Americans
• C) working class
• D) middle class

Recognize the significance of job design and realistic job previews on employee performance and satisfaction.

Learn the various factors that contribute to job satisfaction and performance according to different motivational theories.

Identify the hierarchy of needs according to Abram Maslow and its application in the workplace.

Understand the two-factor theory by Frederick Herzberg and its implications for management.

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Definitions:

Private Cost

The costs directly incurred by individuals or companies involved in conducting an economic activity, excluding any external effects on others.

External Cost

A cost of a transaction that affects someone who did not choose to incur that cost, often associated with negative side effects of economic activities not reflected in market prices.

Social-Cost Curve

A graphical representation showing the total cost to society of producing various levels of a particular good or service, including both private costs and external costs.

Demand Curve

A graphical representation in economics showing the relationship between the price of a specific good and the amount of it that consumers are willing and able to purchase at various prices.