In Abraham Maslow's Hierarchy of Human Needs, the Need for Basic

question 19

Multiple Choice

In Abraham Maslow's hierarchy of human needs, the need for basic life (food, shelter) , a safe environment, and to belong and be loved are designated "D" needs. What does "D" stand for?

• A) deficiency
• B) deprivation
• C) destitute
• D) demanding
• E) decisive

Learn how different types of businesses measure activity (e.g., by wells serviced, client-visits, units produced, tenant-days).

Understand the concept of planning budgets and their adjustments based on actual activity levels.

Learn about the financial management practices in service companies versus manufacturing companies.

Understand the implications of activity variances on employee salaries and wages.

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Definitions:

Price Ceiling

A government-imposed limit on how high a price can be charged for a product, service, or resource, intended to prevent prices from reaching levels thought to be unfair or unaffordable.

Government

The organization, apparatus, or agency through which a political unit exercises authority and performs functions and which is usually classified according to the distribution of power within it.

Equilibrium Market Price

The price at which the quantity of a good or service demanded by consumers is equal to the quantity supplied by producers, leading to a state of market balance.

Price Floor

A government- or authority-imposed minimum price below which a certain product cannot be sold, typically above the equilibrium price to ensure producers receive a minimum income.