A Shift in Demand Occurs When

question 174

Multiple Choice

A shift in demand occurs when

• A) the price of that good changes.
• B) the amount demanded of a good changes at each existing price.
• C) there is a change in quantity demanded.
• D) the price changes and the good is a normal good.

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Definitions:

Maslow's

Relating to the hierarchy of needs theory developed by Abraham Maslow, which posits that human motivations are influenced by a progression of needs, starting from basic survival needs up to self-actualization.

Physiological Needs

Basic physical requirements for human survival, such as food, water, shelter, and clothing, that are essential to maintaining life.

Self-Actualization Needs

The highest level in Maslow's hierarchy of needs, representing the pursuit of realizing one's own potential and self-fulfillment.

Growth Needs

The desire for personal development, self-improvement, and the realization of one's potential.