According to the "Hierarchy of Needs" Model, the First Needs

question 267

Multiple Choice

According to the "hierarchy of needs" model, the first needs most people try to satisfy are their ______________ needs.

• A) safety
• B) personal
• C) physiological
• D) social
• E) any of these are correct.

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Definitions:

Least Possible Cost

The minimum expenditure necessary to achieve a specific outcome or produce a given quantity of a good.

Input Markets

Marketplaces where firms buy resources, goods, and services necessary for producing their own products or services.

Output Markets

Markets where goods and services produced by businesses are sold to households, government entities, and other businesses.

General Equilibrium

A state in which all markets in an economy are in simultaneous equilibrium, taking into account the interactions between different markets.