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The substitution effect of a decrease in the price of movie tickets results in
Needs
Fundamental requirements or necessities for human beings to achieve a basic level of well-being, including physiological, safety, love/belonging, esteem, and self-actualization.
Need for Affiliation
An individual's desire to form connections and foster positive relationships with others.
Alderfer's
Relates to Alderfer's ERG Theory, a model in psychology that categorizes human needs into three groups: Existence, Relatedness, and Growth needs.
Existence Need
In the context of motivation theories, particularly ERG theory, existence needs refer to basic physical and material well-being requirements such as food, safety, and shelter.
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