Need Refers to

question 31

Multiple Choice

need refers to

• A) a sense of personal inadequacy based upon observations by others around you.
• B) a sense of urgency, which causes a person to take action.
• C) a feeling that is shaped by a person's knowledge, culture, or personality.
• D) a feeling of being deprived of something, but not fully understanding what it may be.
• E) a situation when a person feels deprived of basic necessities such as food, clothing, and shelter.

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Definitions:

Electronic Components

Components such as resistors, capacitors, diodes, and transistors used in the creation of electronic circuits.

Relatively Elastic

Refers to a situation where the quantity demanded or supplied of a good changes significantly in response to changes in price.

Percentage Increase

calculates the rate at which a quantity grows over a period, expressed as a fraction of its original value.

Elastic

Describes a scenario where a small change in price leads to a large change in quantity demanded or supplied.