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All the gas stations in Smalltown agree to charge the same price for gas.The owners of the various companies get together every Friday in a coffee shop to decide what the price will be next week.This is:
Social Institution
An established and organized system of social behavior with a recognized purpose.
Technology
The application of scientific knowledge for practical purposes, especially in industry and improvements in tools, machinery, and devices.
Economic System
An organized way in which a country or region allocates its resources and distributes goods and services within the community.
Societies
Groups of individuals who share common territories and cultures, forming organized and interdependent communities with various institutions and norms.
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Q52: Which of the following is NOT true