Examlex
Informal control operates mainly through:
Life Cycle Hypothesis
An economic theory suggesting that individuals plan their consumption and savings behavior over their lifetime, aiming for a stable level of consumption.
Permanent Income Hypothesis
The theory that an individual's consumption patterns are based on their long-term income expectations rather than their current income.
Income Distribution
How wealth and income are shared among a population, often analyzed for insights into economic inequality.
Minimum-wage Laws
Legislation that sets the lowest legal wage that can be paid to workers, aiming to ensure a minimum standard of living for employees.
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