How Is the Need to Belong Different from Other Needs

question 30

Short Answer

How is the need to belong different from other needs such as thirst and hunger?

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Definitions:

Marginal Utility

The additional satisfaction or utility gained by consuming one more unit of a good or service.

Consumer Surplus

The consumer surplus is the gap between what consumers are ready and capable of paying for a good or service and what they actually spend on it.

Marginal Utility

The augmented satisfaction or value someone derives from the consumption of an extra unit of a good or service.

Consumer Surplus

Consumer surplus represents the discrepancy between the total price consumers are prepared and able to spend on a product or service and the actual amount they end up paying.