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Explain the Difference Between a Need and a Motive and Provide

question 190

Essay

Explain the difference between a need and a motive and provide an example of each.


Definitions:

Price Rises

An increase in the cost of goods or services over a period, often caused by factors such as inflation, increased demand, or higher costs of production.

Marginal Utility

The extra pleasure or benefit one gains from the consumption of one more unit of a product or service.

Total Utility

The total satisfaction or benefit a consumer receives from consuming a particular quantity of goods and services.

Total Utility

Total utility is the total satisfaction or value a consumer derives from consuming a particular quantity of goods or services.

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