Maslow's Hierarchy Is Important to Managers Because

question 92

Multiple Choice

Maslow's hierarchy is important to managers because

• A) it is an economic motivator.
• B) workers won't be motivated to contribute to the organization's goals until their basic needs are met.
• C) it debunked Hawthorne's theory of motivation.
• D) workers are able to satisfy higher needs and forget about the lower levels,which are costly.
• E) it is efficient.

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Definitions:

Lease Rate

The cost of renting a property, equipment, or other assets, typically expressed as a monetary payment per time period.

Implicit Marginal Costs

Costs that are not directly paid or quantified but affect the decision-making process, such as opportunity costs.

Perceived MC

Perceived Marginal Cost represents the cost perceived by a firm or individual for producing one additional unit of a good or service, factoring in not only direct cost but also subjective considerations.

Optimal Quantity

The ideal amount of a good or service that achieves the best possible outcome or utility for a consumer or company, balancing cost and benefits.