Examlex
Explain the three types of reference group influence. For each type, explain how a reference group is able to influence your behaviour using that type of influence.
Payroll Taxes
Taxes imposed on employers and employees, based on the wages and salaries paid to workers, used to fund social security and healthcare services.
Negative Externality
A cost that affects a party who did not choose to incur that cost, often resulting from industrial activity, where the negative effects are felt by others, such as pollution.
Public Good
A product that is non-excludable and non-rivalrous, meaning it can be used by many simultaneously without diminishing the product's availability to others.
Private Good
A good, such as pizza, that is both rival in consumption and exclusive.
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