Sociology Chapter 14 Capitalism and the Economy

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what is the name of the economic system that developed along with the Agricultural revolution and Industrial revolution in Europe?

capitalism

in a capitalist economic system, the price and distribution of goods and services are determined by what?

competition

agricultural revolution was spurred on by new innovations such as:

crop rotation

according to Adam Smith, what is the most efficient way to produce something?

through a division of labor that breaks production in into its constituent parts

Adam Smith argues that money is:

inherently social

Georg Simmel saw the development of monetary payment systems as part of a historical evolution leading to:

depersonalization of exchange

the global distribution of wealth is referred to as a "champagne glass distribution" because:

the top 0.5 percent of global adults own more than one third of the world’s wealth

Marx described workers as being alienated from:

– all of the above the process of production other people themselves

in contrast to Simmel, Karl Marx believed that friendship under capitalism is not possible because:

all relationships become market reltionships

which theorist claimed the modern capitalism would not have arisen without the Protestant Reformation, which created the necessary social conditions for capitalism is not possible because:

Max Weber

Because Ford created the "family wage," he was:

heralded for his generosity and genius

according to sociologists Jerry Jacobs and Kathleen Gerson, because workers want to advance in their careers, any avoid taking full advantage of:

family friendly office policies

postfeminist expectations for family and work today are:

to combine marriage to an egalitarian man with motherhood and successful career

what term describes the economy that revolves around providing intangible services such as restaurant work, health-care provision, higher eduction, legal advice, computer tech support, and massage?

service sector

globalization in the twenty first century is characterized by:

the emergence of new markets, new means of exchange, new players, and new rules that are intensifying worldwide interdependencies

some critics claim the Carlyle Group uses insider political knowledge, or ______, to dominate heavily regulated markets

political arbitrage

there are several ways corporations can dominate the market by offering the lowest prices to attract the most buyers. which are the following is NOT one of the ways your text mention to do this?

making charity contributions

which term refers to formalized rights, duties, and responsibilities of a person?

juristic person

"Parceling-out of the soul" is Max Weber’s term for people who:

become alienated from a sense of right and wrong

which term refers to a single seller of good or service in the market,resulting in zero competition?

monopoly

a corporate strategy to reduce production cost is to lower labor costs. one publicly unfavorable way is to move all part of the company’s operations overseas and use third world labor to minimize cost. This is referred to as:

offshoring

offshoring occurs when firms:

move all or part of their operations abroad to developing nations

most economists, policy analysts, and well-informed Americans say that caused the credit bubble and bust of the 2000s was the repeal of the:

Banking Act of 1933

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