Examlex
Which of the following types of social power is based on a group's power to sanction group members for breaking rules or failing to follow expectations?
Equilibrium Price
The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, leading to a stable market condition.
Elastic
A characteristic of demand or supply indicating a high responsiveness to changes in price.
Pure Rent
Income received by a landowner for the use of a natural resource, land, or location that is essentially in fixed supply.
Pure Rent
Income earned from owning a resource completely fixed in supply, with no additional production cost.
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