Examlex
Need is to ________ as drive is to ________.
Reference Point
A baseline or standard from which changes are measured, often used in decision-making and behavioral economics.
Consumer Decision
The process by which individuals select goods or services to fulfill their needs and wants.
Equilibrium Point
A state in which market supply and demand balance each other, and as a result, prices become stable.
Endowment Effect
A psychological and behavioral economics phenomenon where individuals value an owned object higher than a similar object they do not own.
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