Which of the Following Shows a Focus on the Lowest

question 1

Multiple Choice

Which of the following shows a focus on the lowest of Maslow's hierarchy of needs?

• A) Joan wants to live in a house with all the modern conveniences so that she may have more time to seek fulfillment from her career and family.
• B) Frank feels that he is a good salesman because he likes what he does and knows how to do it well.
• C) Barbara knows that as a teacher she is a good person because she realizes the importance of imparting knowledge to society.
• D) Mark works hard as an attorney only so that he can attract more clients, more money, and be secure in the knowledge that his family can survive.

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Definitions:

Competitive Markets

A market structure characterized by many buyers and sellers, free entry and exit, and products that are similar but differentiated, leading to competition on price, quality, and innovation.

Private Property Rights

Legal rights that grant individuals or organizations exclusive ownership and control over their property.

Competitive Market Economy

An economic system where businesses compete freely with minimal government intervention, prices are determined by supply and demand, and resources are allocated through the price mechanism.

Short Supply

Short supply refers to a market condition where the availability of a good or service is less than the demand for it, often leading to higher prices.