Needs Hierarchy Theory Explains How People Develop Perceptions of Fairness

question 238

True/False

Needs hierarchy theory explains how people develop perceptions of fairness in the distribution and exchange of resources.

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Definitions:

Export Sector

The segment of an economy's industry involved in producing goods or services for sale in foreign countries.

Consumer Surplus

The difference between the maximum price consumers are willing to pay and the market price they actually pay.

International Trade

The trade of products, services, and funds across borders or territories of different countries.

Autarky Price

The price of a good or service within a country that is not involved in trade; the domestic price in the absence of international trade.