Yes, the Maslow hierarchy is of basic human needs. So the statement is correct.
This five-stage approach is separated into two parts: deficient needs and growth needs. The first four levels are known as deficiency needs (D-needs), whereas the top level is regarded as development or being needs (B-needs).
Deficiency needs occur as a result of deprivation and are considered to inspire people when they go unsatisfied. Furthermore, the drive to meet such wants grows stronger the longer they are ignored. The longer an individual goes without meals, for example, the more hungry they would become.
Maslow (1943) first suggested that humans must first address lower level deficiency requirements before moving on to higher level development needs. However, he then explained that need fulfillment is not an "all-or-nothing" phenomenon, conceding that his previous words may have created "the misleading impression that a need must be met 100 percent before the next need occurs" (1987, p. 69).
When a deficit need is more or less met, our efforts become routinely directed towards fulfilling the next set of requirements that we have yet to fulfill. These have to become our most pressing requirements. However, growth demands are still present and may even intensify after they have been addressed.
Therefore, the given statement is correct.
Read more about Maslow's hierarchy, here
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