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Erik H.Erikson emphasized that almost all important socialization takes place during childhood.
Marginal Utility
The surplus satisfaction or benefit gained by consuming another unit of a good or service.
Total Utility
The overall satisfaction or value that a consumer derives from consuming a particular quantity of goods and services.
Income Redistribution
Economic policies or mechanisms aimed at leveling the distribution of wealth or income in a society by transferring money from the richer sections to the poorer ones.
Income Inequality
A measurement showing the distribution of income among individuals or households in a society that highlights the gap between the rich and the poor.
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