When People Begin to Label Themselves as Deviant and It

question 49

Multiple Choice

When people begin to label themselves as deviant and it becomes part of their self- concept, they are in the stage of ________deviance.

• A) secondary
• B) major
• C) tertiary
• D) primary
• E) marginal

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Definitions:

Industry Structures

The characteristics that define the competitive environment of a market, including the number and size of competitors, product differentiation, and ease of market entry.

Economic Profit

Total revenues minus explicit and implicit costs, representing the return on investment beyond the normal expected return.

Normal Profit

The level of profit that is necessary for a company to remain competitive in the market, often seen as the minimum acceptable return.

Allocative Inefficiency

A situation where resources are not allocated optimally, leading to a loss of economic efficiency.