Socialization
The process that teaches norms, values, and other aspects of culture to society's members is known as:
Schools are agents of socialization that not only teach us subject knowledge and life skills but also social skills through our interactions with teachers, staff, and other students.
According to the graph, in this market, a price of $1.50 would be equilibrium.
Civilized society enriched with proper institutional pattern, perfect infra structure and a well built organization which needs money to be maintained properly.
Explanation:
To maintain a class of living standard, perfect shelter, balance between demand and supply money is needed abruptly. Civilization means implementation of modernized personals in the society which needs money. If a society face financial crisis it would not be possible further progress in prosperity.
In the early age when society was not upgraded and not civilized people live a life of a daily wager who earns money on daily basis and fulfill their basic needs that is bread and shelter on the basis of that. But in a civilized society people is educating, involving themselves in work and raising their lifestyle according to their capacity.
