Most of the Time People Conform Out of Fear of Punishment

question 4

True/False

Most of the time people conform out of fear of punishment.

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Definitions:

Variable Input

Variable input refers to a production factor that can be adjusted in the short term to increase or decrease production output.

Short Run

A period during which at least one of a firm's inputs is fixed, limiting its capacity to adjust fully to changes in market demand.

Short Run

A time period in economics during which at least one factor of production is considered fixed, limiting the ability of the economy or firm to adjust to changes.

Fixed Inputs

Inputs in the production process that cannot be easily increased or decreased in the short run, such as land or machinery.