Consider the Global Market for Barley,an Agricultural Commodity

question 45

Multiple Choice

Consider the global market for barley,an agricultural commodity.Suppose that in August,2014,the equilibrium price and quantity were P = $150 per tonne and Q = 350 million tonnes.In August,2015,the equilibrium price and quantity were P = $168 per tonne and Q = 290 million tonnes.Which of the following is the best possible explanation for this change in market equilibrium?

• A)There has been an increase in demand for barley.
• B)There has been an increase in supply of barley.
• C)There has been a simultaneous increase in demand and increase in supply of barley.
• D)There has been a decrease in supply of barley.

Recognize the role of learned needs in motivation.

Understand the fundamental concepts of Maslow's hierarchy of needs and its division into deficiency and growth needs.

Recognize the differences in motivation theories, including Maslow's needs hierarchy, McClelland's learned needs model, and Herzberg's motivator-hygiene model.

Distinguish between intrinsic and extrinsic motivation factors as per Herzberg’s model.

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