Examlex
Firm A notices that Firm B is making a profit by producing footballs.There is nothing stopping Firm A from entering the football market,so it does.Holding all else constant,the number of firms in the market will
Uncertainty-Identity Theory
A social psychological theory suggesting that individuals join and strongly identify with groups to reduce feelings of uncertainty about themselves and the world.
Social Norms
Unwritten rules that govern the behavior of individuals within a society or group, dictating what is considered acceptable or unacceptable.
Cultural Transmission
The process whereby members of a culture learn explicitly or implicitly to imitate the beliefs and behaviors of others in that culture.
Ethnically Homogenous
A description for groups or societies that are made up of members who share the same ethnic background.
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