Peer Pressure Is Most Powerful When Standards for Appropriate Behaviour

question 131

Multiple Choice

Peer pressure is most powerful when standards for appropriate behaviour are

• A)high.
• B)moderate.
• C)low.
• D)not clear-cut.

---

Definitions:

Price-leadership Model

A market strategy where one leading company sets the price for goods or services, and others in the industry follow suit.

Dominant Firm

A company that has a major share of total sales in a particular market, giving it significant control over market prices and competition.

Oligopoly

A market structure characterized by a small number of firms controlling a large majority of the market share, leading to limited competition.

Dominant Price Leader

A firm that has the biggest market share in an industry and whose price changes are usually followed by other firms in the market.