Primary Groups Are Characterised by

question 58

Multiple Choice

Primary groups are characterised by

• A)weak ties.
• B)objectivity.
• C)face-to-face contact.
• D)impersonal associations.

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Definitions:

Keynesian Region

An economic concept from Keynesian theory suggesting ranges of output levels where total spending is sensitive to changes in the level of income, affecting unemployment levels.

Classical Theory

An economic theory emphasizing free markets, competition, and the idea that supply and demand will naturally regulate the economy.

Flexible Interest Rates

Interest rates that can change over the duration of a loan or savings account, responding to market conditions.

Aggregate Saving

The total amount of saving in the economy, consisting of both private savings by individuals and public savings by the government.