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If credit restrictions for accounts receivable are increased, then it would move a firm toward a
flexible short-term financial policy.
Robert Merton
An American sociologist known for his theories on social structure, norms, and deviance.
Protestant Ethic
A concept in sociology that links hard work, frugality, and efficiency with the values of Protestantism as key to economic success.
Technological Development
The process of research, innovation, and diffusion of technology or processes that lead to the development of new or improved technological solutions.
Power Elite
A theory that a small group of people, often from the political, military, and economic sectors, hold the majority of power in society.
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