In Maslow's Hierarchy of Needs Theory, ________ Needs Form the Lowest

question 89

Multiple Choice

In Maslow's hierarchy of needs theory, ________ needs form the lowest or foundational step in the hierarchy.

• A) psychomotor
• B) physiological
• C) psychological
• D) psychographic

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Definitions:

Consumer Surplus

The disparity between what consumers are prepared and can afford to spend on a product or service compared to the actual amount they end up paying.

Tariff

A tax imposed on imported goods to protect domestic industries or to generate revenue.

Tariff Revenue

Income that governments earn from imposing taxes on imported goods to protect domestic industries or generate income.

Economic Strategy

A plan of action designed to achieve specific financial or market objectives.