Institutions That Society Uses to Pass on Norms, Values, and Beliefs

question 6

Multiple Choice

Institutions that society uses to pass on norms, values, and beliefs are:

• A) Functions
• B) Dysfunctions
• C) Latent functions
• D) Manifest functions

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Definitions:

Establishing Prices

The process of determining the selling price of goods or services, taking into account factors like costs, market demand, competition, and desired profit margins.

Regulating

The process of controlling or governing according to rules or principles, often carried out by a governmental body.

Price Discount

A reduction from the usual cost of an item or service, used as a strategy to increase customer purchases or reduce inventory.

Anticipation Inventory

Stocks held in anticipation of customer demand, allowing companies to meet consumer needs without delay.