Basic Economics with Tar

dollar was close to an eight year shortage against the real, having lost more than 33% of its value during 2009 alone. During the past 12 month era, the exchange rate of the U.S. dollar (USD) has diverse from a low of BRL R $1.5310 to in height of BRL $1.7790. During 2010, the United States dollar typically kept an everyday exchange rate between (BRL) R$1.70 and (BRL) R$1.80, occasionally reducing below the (BRL) R$1.70 level.

There are only a few ways to increase production, which include hire more workers, increase hours, buy more equipment, and take advantage of technology to produce more. The government must form a way that the economy doesn’t grow too slow or fast so they can prevent disastrous events. The importance of modern currency lies in its purchasing power. Inflation signals the rising prices, but the way to think about it isn’t like that, but that the currency’s purchasing power decreases. With hyperinflation, fixed loans are impossible because nobody wants to risk it when the money can potentially become worthless. With moderate inflation, it can destroy wealth if it isn’t managed properly. Inflation is good for those who owe debt, but bad for those who lend money. Inflation may be bad, but deflation is worse. Prices fall because the economy is broken, but now the economy is broken because the prices have fallen.

Abraham Maslow created a ‘needs theory’ where “human needs are ranked on an ascending scale according to how essential the needs are for survival” (Kozier & Erb, 2014, p. 237). “Once a lower need is fulfilled, a next

Abraham Maslow is a psychologist who had developed the Hierarchy of needs model in 1940-50s, and the Hierarchy needs theory is still being used to day and for understanding the human motivation. In his hierarchy he believes that people are motivated to achieve certain needs. And when a human had fulfilled a person would seek to fulfil the next one. Maslow’s hierarchy needs is concerning the responsibility of service providers to provide a

These demands are ranked in the order that they most preoccupy the individual. To illustrate, an individual is not preoccupied by physiological needs such as hunger or thirst then he free to seek out that which gives him a sense of safety; moreover, if the individual isn’t preoccupied with finding a safety, warmth, and shelter, he can spend time time seeking out companionship (Huitt, 2007). Maslow proposes 8 levels of motivational needs, the first four, termed the deficiency needs, need to be fulfilled adequately before the second four, the growth needs, can be achieved. The deficiency needs are: bodily needs, the need for safety, social needs, and self esteem. The Growth needs are: the search for understanding, the need to be aesthetically pleased, self actualization, and finally, self-transcendence, which is the highest level, where one has acquired wisdom (Huitt

As it was mentioned before, the key idea of Maslow’s Hierarchy of Needs theory relates to the existence of several sets of motivation and needs that govern human behavior. Hence, the major concepts of this theory include certain needs that are grouped into sets based on their place within the hierarchy of all the needs. The first version of the theory has five needs, which are divided into

With inflation increasing around one percent each year, the value of the dollar decreases. This

In Abraham Maslow’s theory of self-actualization, the first level is basic needs. The basic needs consist of survival necessities, basic needs are the lowest level of the hierarchy. Some of these basic needs are the need of air, food, drink, shelter, warmth, sleep. Only after meeting the basic lower-order needs can a person fulfill higher-order needs, such as the needs for love and a sense of belonging, esteem, and self-actualization (http://www.simplypsychology.org/maslow.html.) People have a physical need for homeostasis, which is the body’s tendency to maintain a steady internal state, underlies primary drives. The biological needs of a person are motivated the drives of a person, such as hunger, thirst, sleep, and sex, which are related to the biological needs of the body. Motivation is

Understanding consumer behaviour is essential to succeed in business. As Solomon et al. (2013) stresses, businesses exist to satisfy consumer’s needs. By identifying and understanding the factors that influences their customers, firms have the opportunity to develop a more efficient strategy, marketing message and advertising campaigns that is more in line with the needs and ways of thinking of their target consumers (Perreau, 2015).

Doyal, L. & Gough, I., 1991 suggested in ‘A Theory of Human Need’ that further to Maslow’s hierarchy, all humans have eleven needs beyond Kerr’s “survival needs”. They referred to these as “intermediate needs” and cited that they would include things such as appropriate healthcare and economic

Abraham Maslow theory argues that basic needs must be fulfilled in order for a person to fulfill higher needs. Maslow believed that the first need to be met involves physiological needs such as food and water. Once physiological needs have been met, the person must fulfill safety needs. After a person feels safe and secure, they will rise to the next level in the hierarchy of needs. The next level involves the need to belong, be loved, and be accepted.

Physiological needs, such as food and shelter, are followed by needs related to safety. Next, there are needs of love and belonging. Fourth, humans have needs of esteem, such as the need for being respected. The final need in the hierarchy is the need for self-actualization (fulfilling one's potential). The hierarchy suggests that basic needs must be met prior to less basic needs; for example, a starving person will seek food before self-actualization.”(Maslow,

In economics, we learn that inflation is when the value of the dollar falls. Whereas, deflation affects the value of the dollar by increasing its worth. Inflation and deflation should in all actuality concern us all. Although, deflation in my book is more concerning than inflation. It is important to understand cost of living in today economy. The cost of living is all one's expenses to support one's self. One way to measure cost of living is by using the Consumer Price Index(CPI). These are a few of the resources we use to understand today's economy.

In today’s world of various products and services, businesses aim to excel and lead the competition by marketing the most number of consumers, which is a full time endeavor of business. To survive in the market, a firm or an organization has to be constantly innovating and understand the latest consumer trends and tastes. Marketers need to understand consumer behavior because the decision-making process for consumers is anything but straight forward. Consumers’ behaviors and their purchasing patterns is a huge advantage to understanding the way customers think and the reason for their purchases. Therefore, the study of consumer behavior is important because it allows the

A.H. Maslow, a famous social scientist, has given a framework that helps to explain the strength of certain needs. According to him, there seems to a hierarchy into which human needs are arranged as shown in Figure.