Which of the Following Is Characteristic of Individuals with a High

question 85

Multiple Choice

Which of the following is characteristic of individuals with a high nAch?

• A)They are less likely to complete difficult tasks.
• B)They more often choose occupations involving risk and responsibility.
• C)They tend to go through jobs rather quickly.
• D)They have a desire to meet an external standard of excellence.

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Definitions:

Utility Maximization

The process by which consumers allocate their spending to maximize the total satisfaction or utility received from their available resources.

Utility Maximization

The process by which consumers allocate their income in a way that maximizes their overall satisfaction or utility.

Marginal-Utility Schedules

Tables or graphs showing the relationship between the quantity of a good consumed and the incremental satisfaction (utility) gained from consuming each additional unit.

Utility Maximization

An economic principle where consumers attempt to get the greatest satisfaction possible from their available resources.