Adam Smith argues that money is inherently social because: |
c. any and all economic exchange requires two partners |
What effect did the agricultural revolution in Europe have on the transition to capitalism? |
b. It helped capitalism develop |
According to the textbook, in a capitalist system, the price and distribution of goods and services are determined by what? |
d. competition |
Adam Smith, the father of liberal economics, determines that groups of individuals pursuing their own self-interest manage to stay intact and not fall into the chaos of civil strife because: |
b. individuals self-interest in an environment of others acting similarly will lead to a situation of competition |
What is one advantage of piecework payment over in-kind payment? |
c. the worker can do whatever he wants with the cash |
Under feudalism, what is one of the major resources exchanged among lords, casuals, and serfs? |
d. protection |
Marx described workers as being alienated from: |
d. all of the above |
Serfs were the lowest class in the feudal system and were bound to the land they worked, yet they were not slaves. They were different from slaves because they: |
a. could own property |
The dominant economic system before the agricultural revolution was: |
b. the feudal system |
At the end of the eighteenth century and the beginning of the nineteenth century, a massive transition was propelled by the development of new technologies, including: |
b. the power loom and steam engine |
Georg Simmel saw the development of monetary payment system as part of a historical evolution leading to: |
a. depersonalization of exchange |
The good thing about a salary, according to Simmel, is that: |
c. workers still get paid, even if the electricity goes out for the day and no work gets done |
Offshoring occurs when firms: |
b. move all or part of their operations abroad to developing nations |
In contrast to Simmel, Karl Marx believed that friendship under capitalism is not possible because: |
a. all relationships become market relationships |
Which theorist claimed that modern capitalism would not have arisen without the Protestant Reformation, which created the necessary social conditions for capitalism by creating theological insecurity and instilling a doctrine of predestination? |
d. Max Weber |
The Obama white house tends to differ from the previous one because: |
a. it has turned to the traditional African American three-generation household |
Globalization in the twenty-first century is characterized by: |
c. the emergence of new markets, new means of exchange, new players, and new rules that are intensifying worldwide interdependencies |
The global distribution of wealth is referred to as a "champagne glass discussion" because: |
c. the top 5 percent of global adults own more than one-third of the world’s health |
In the United States, corporations share many of the same rights as individuals, except corporations: |
c. can’t vote |
Some people consider operations to be "psychotic" because corporations: |
d. show little regard, remorse, or guilt for harming others |
One common strategy for attracting the most buyers, which can be accomplished through several tactics, is: |
a. lowering production costs |
A corporate strategy to reduce production cost is to lower the cost of labor. One publicly unfavorable way is the move all or part of the company’s operations overseas and use third world labor to minimize cost. This is referred to as: |
b. offshoring |
A union allows workers to join together to promote their: |
d. collective interests |
How would you describe recent relations between employers and unions? |
c. employers actively try to undermine unions |
________ trade agreements, such as NAFTA, encourage business at a regional or worldwide level |
c. multilateral |
Sociology quiz 12
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