__________ Are Sets of Expectations Held by Group Members Concerning

question 117

Multiple Choice

__________ are sets of expectations held by group members concerning what kinds of behavior or opinions are acceptable or unacceptable, good or bad, right or wrong, appropriate or inappropriate.

• A) Tensions
• B) Hidden agendas
• C) Roles
• D) Cohesions
• E) Norms

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Definitions:

Pure Competition

A market structure characterized by a large number of small firms, similar products, and very little control over price.

Monopolistic Competition

A market structure in which many firms sell products that are similar but not identical, allowing for significant differentiation and competition.

Excess Capacity

refers to a situation where a firm or economy can produce more goods than currently demanded, often leading to unused resources.

Least-cost Output

The level of production at which a firm can produce a specified quantity of output at the lowest possible cost.