Market Controls Involve

question 88

Multiple Choice

Market controls involve

• A) The use of rules and regulations.
• B) The use of economic forces.
• C) The use of authority.
• D) The use of sales and variable costs levels.
• E) The use of norms.

Identify differences between folkways and mores in cultures.

Describe the stages of culture shock.

Recognize the diversity of languages in the world and their significance.

Compare Canadian and American cultural attributes.

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Definitions:

Rational Choice Theory

An economic principle that assumes individuals always make prudent and logical decisions that provide them with the highest amount of personal utility.

Maximize Benefits

A strategy aimed at obtaining the highest possible gain or advantage from a particular action or situation.

Define Power

The ability or capacity to influence or control the behavior of others, either directly or indirectly, often through the possession of authority, knowledge, or means.