__________________ Sanctions Attempt to Precisely and Explicitly Regulate People's Behavior

question 77

Multiple Choice

__________________ sanctions attempt to precisely and explicitly regulate people's behavior.They can be positive (such as military decorations) or negative (such as imprisonment) .

• A)Hierarchical
• B)Egalitarian
• C)Casual
• D)Informal
• E)Formal

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Definitions:

Producer Surplus

The difference between the amount producers are willing and able to sell a good for and the actual amount they do sell it for.

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive in the market.

Producer Surplus

The gap between the price producers are ready to take for a good or service and the price they actually get.

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the quantity of that good or service that suppliers are willing to offer for sale at that price.