Reference Groups Influence People in Three Ways: Unitarian, Value-Expressive, and Informational

question 45

True/False

Reference groups influence people in three ways: unitarian, value-expressive, and informational.

---

Definitions:

Command-based Economy

An economy where production, investment, prices, and incomes are determined centrally by a government.

Gini Coefficient

A measure of the distribution of wealth within a country.

Reserve Requirement

The minimum amount of cash reserves a commercial bank must hold.

Capitalism

An economic system in which factors of trade and production are controlled by private owners rather than by the state.