Name and Describe the Five Types of Social Power and Explain

question 102

Essay

Name and describe the five types of social power and explain the type or types of power the following people might hold over others' behaviour:
(a) Judge
(b) Coach
(c) Parent
(d) Friend
(e) Doctor

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Definitions:

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount they receive.

Tax

A necessary economic duty or another sort of imposition exacted from a taxpayer by a governmental agency to allocate funds for government activities and multiple public financial needs.

Good

A tangible item that satisfies some human want or need, which can be transferred from the producer to a buyer.

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved, leading to a mismatch between supply and demand.