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Maslow's Progression Principle Holds That a Need at One Level

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Maslow's progression principle holds that a need at one level does not become activated until the next lower-level need is already satisfied.


Definitions:

Manufacturers

Manufacturers are entities engaged in the industrial production of goods from raw materials through the use of machinery and labor.

Market

A place or mechanism where buyers and sellers converge to trade goods, services, or resources.

Production Possibility Frontier

A curve representing the maximum combinations of goods or services that can be produced with limited resources.

Bowed Out

A description usually of production possibilities frontier that shows increasing opportunity costs.

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