Examlex
The vertical sum of the marginal cost curves (above minimum AVC)of all the firms in an industry is the long-run industry supply curve.
Punishment Industry
A term describing the sectors that benefit from or are involved in the enforcement of penalties, often critiqued in discussions about the prison system and law enforcement.
Criminal Justice System
A collection of government agencies and institutions aimed at maintaining social control, deterring and mitigating crime, and sanctioning those who violate laws with criminal penalties and rehabilitation efforts.
Depressed Rural Area
A region in the countryside experiencing significant economic decline, high unemployment rates, and poverty.
Criminal Subcultures
Groups within larger cultures that develop their own norms and values centered around criminal activities.
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