Groups May Be Informal (E

question 184

Multiple Choice

Groups may be informal (e.g., peer groups) or formal (e.g., work groups defined by management) . Members of the group can have either assigned or adopted roles. Groups also develop a set of norms, or accepted standards of behavior, which group members are expected to follow.

• A) informal, formal, community members
• B) informal, formal, group members
• C) formal, informal, group members
• D) informal, formal, organization members

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Definitions:

Consumption

The use of goods and services by households, constituting one of the primary components of GDP.

Price Mechanism

The manner in which the prices of goods or services affect the supply and demand of goods and services.

Capitalist Economies

Economic systems where capital assets are privately owned, and the production and distribution of goods and services are determined by competition in a free market.

Legal System

A legal system is a mechanism for creating, interpreting, and enforcing laws in a given jurisdiction, influencing the way justice is administered and how rights are protected.