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The purpose of punishment as a public spectacle was:
Car Buyers
Consumers who are in the market to purchase a vehicle, representing a segment of the automotive market influenced by factors such as price, fuel efficiency, and brand loyalty.
Asymmetric Information
A situation where one party in a transaction has more or better information than the other, often leading to an imbalance in power or unfair advantage.
External Agency
An outside organization or group that provides services or support for another entity's objectives.
Equilibrium Price
The price at which the quantity of goods demanded by consumers equals the quantity of goods supplied by producers, leading to market stability.
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