Which of the Following Is a Basic Category of Need

question 21

Multiple Choice

Which of the following is a basic category of need identified by Clayton Alderfer in his ERG theory?

• A) esteem, relatedness, and goal
• B) existence, relatedness, and growth
• C) existence, recognition, and growth
• D) esteem, recognition, and goal
• E) existence, relatedness, and goal

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Definitions:

Government Intervention

Actions taken by a government to affect the economy, which can include regulation, subsidies, tariffs, and other mechanisms.

Externalities

Economic side effects or consequences of an industrial or commercial activity that affect other parties without being reflected in the costs of the goods or services involved.

Coase Theorem

A principle that asserts if property rights are clearly defined and transaction costs are low, private negotiations will lead to the efficient resolution of disputes over the allocation of resources.

Transaction Costs

The costs that parties incur during the process of agreeing to and following through on a bargain.