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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Cultural norms are the standards that govern behavior in a particular society. In other words, these are shared beliefs about acceptable behavior, which can exist as informal expectations or as codified laws. They are different from “ideas”, “values”, and “attitudes”, all of which can be held privately and do not necessarily influence group behavior on
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According to the activity theory of aging, successful aging occurs when older adults remain active and maintain social interactions. It believes that keeping older people socially active delays the aging process and improves their quality of life. Examples of activity theory of aging include encouraging aging people to continue to go to church groups, go
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A group that a person identifies with is their “in-group”. People who do not fall within the in-group are the “out-group”. This leads to two simultaneous cognitive processes: This means that humans are naturally inclined to look favorably upon members of their in-group. At the same time, they have a bias (whether conscious or unconscious)
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The outgroup homogeneity effect is a cognitive bias in which people mistakenly perceive outgroup members as being a homogenous group. In other words, it is the perception that members of an outgroup are identical to one rather. It ignores the fact that even though people are members of a certain group, they still may possess
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Social process theory is a group of sociological approaches that conceptualize socialization as a continuous process. It includes symbolic interactionism and differential association theory. According to these approaches, socialization occurs in all aspects and areas of a person’s life. Social process theory also emphasizes that individuals create their own identities through interactions with other people
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The differential association theory is a social process theory that states that criminal behavior is learned when you associate with other people who indulge in criminal behavior. Organized crime, crime ghettoes, and public corruption can each be explained by and are examples of differential association theory in action. There are two keywords in the term
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