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Define What Granovetter (1974)meant by the Strength of Weak Ties

question 52

Essay

Define what Granovetter (1974)meant by the strength of weak ties.Give one example of how this might work in the real world of social networks.


Definitions:

Economic Welfare

The overall health and well-being of an economy, measured by factors such as wealth, happiness, and the distribution of resources.

Rent Controls

A restriction set by authorities on how much landlords can demand for renting out houses or apartments.

Long Run

An economic term for a timeframe in which all factors of production and costs are variable, allowing for full adjustment to changes.

Nominal Growth Rate

The rate at which an economy or financial metric grows over time, including inflation, without adjusting for the latter.

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