1. BBI1O1

2.  Necessities  Goods and services you must have to survive

3.  Goods and services that are not necessary for survival

4.  Income, job, age  Where you live (developed vs. 3 rd world country; climate)  Status, values, goals  Exposure to media  Faith, customs, habits  Trends, changes in family lifestyle

5.  Needs and wants differ from person to person  Employment is considered a need for many  A car, computer and TV are considered needs for many  Past wants become future needs

6.  His ideas and theories about human psychology are heavily applied in the world of business today  Developed a “hierarchy of needs” that we still study today

12. According to Maslow, a person’s lower-order needs must be met before the higher ones can be satisfied.