Mixed costs, also known as semi-variable costs, are business expenses that have both fixed and variable components. In simpler terms, it’s a cost that fluctuates according to the amount of production and cannot be eradicated like a fixed expense. Mixed costs contain two parts – a fixed cost component and a variable cost component. The […]
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Ideal culture is a set of values and practices that a culture aims to achieve but are not truly obtained. It is a theoretical concept that paints a picture of the best version of a particular society. Ideal culture provides a benchmark against which the actual values and practices of a given society—called “Real culture”—can
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Real culture refers to the actual values, beliefs, practices, and norms that exist in a society at any given time. In sociology, it is juxtaposed to the concept of ideal culture, which refers to an aspiration (or ‘idealization’) of a culture rather than reality. The term ‘real culture’ helps sociologists to refer to a realistic
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In sociology and psychology, descriptive norms can be defined as those rules that people feel they have to follow based on what the typical person might do. Our actions are based on our expectations of other people’s behaviors and actions. The opposite of descriptive norms are injunctive norms. The difference between injunctive and distinctive norms
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In sociology and psychology, injunctive norms are considered the social norms that people feel they have to follow based on what they think other people expect of them. They are norms that are sustained due to perceived social approval or disapproval in a given situation or context. The opposite of injunctive norms is descriptive norms.
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Implicit memory is a type of long-term memory that refers to information that is remembered unconsciously and without effort. Even though it is retrieved without intention, implicit memory can still affect behavior. Examples of Implicit memory include information for how to carry out tasks such as typing or riding a bike. When a person performs
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A price ceiling is an economic term that refers to a government-imposed restriction on how high the price of a good or service can be. It is used as a form of price control to protect consumers from price gouging or unfair pricing practices. For example, a government may impose a price ceiling on fuel
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Primary deviance is behavior that is seen as unacceptable by society. But, unlike secondary deviance, the person who engages in the behavior has not yet been ‘labeled’ as a deviant (criminal, bad, etc.) person. The labeling theory of deviance (aka social reaction theory) states that human behavior is influenced by the labels we give them.
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Diversification is the practice of investing in a range of industries and asset classes in order to mitigate risk. Related diversification is a sub-type, referring to diversification into an industry or business that is related to your main business’s core competency. Companies that diversify into related products and services can leverage existing knowledge, skills, and
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A social class is a group of people characterized by the same socioeconomic status (Jones, 2001). The social class that an individual belongs to will depend upon factors such as their: Scholars generally divide classes into types of social class such as: However, as the following examples show, there are many ways to define social
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