Examlex
If the absolute value of the price elasticity of demand for a product is less than 1, then
Primary Group
A group with strong emotional ties and bonds that endure over time. This type of group tends to be more informal and intimate than other groups that individuals belong to. See also Secondary group.
Secondary Group
A group that is formal and impersonal, often organized around instrumental goals. See also Primary group.
Ethnocentrism
In intergroup relations, the tendency to regard one’s own group as the center of everything and to evaluate other groups in reference to it; the tendency to regard one’s in-group as superior to all out-groups.
Goal Isomorphism
The concept of having converging or similar objectives across different individuals, groups, or systems.
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