Economic Institution
Explore Economic Institutions: A Quiz
Test your knowledge about economic institutions with this engaging quiz! Learn about the different forms of reciprocity, capitalism, and the role markets play in society. This quiz is designed to enhance your understanding of economic principles in a fun and interactive way.
- 10 thought-provoking questions
- Multiple choice format for ease of answering
- Perfect for students and enthusiasts alike
IN GENERALIZED RECIPROCITY, THERE IS AN EXPECTATION OF IMMEDIATE CHANGE FOR THE GIVEN GIFTS
True
False
IN BALANCED RECIPROCITY THERE IS AN OBLIGATION THAT THE RECIPIENT NEEDS TO MAKE A RETURN
True
False
TRANSFERS ARE REDISTRIBUTION OF WEALTH AND INCOME WHERE GOODS ARE BEING GIVEN TO THE DONOR IN RETURN.
True
False
CAPITALISM IS AN ECONOMIC SYSTEM IN WHICH FOCUSES ON THE ACCUMULATION OF PROFITS.
True
False
STATE IS A POLITICAL ORGANIZATION WHICH POSSESES SOVEREIGN JURISDICTION WITHOUT A DEFINED TERRITORY.
True
False
MARKETS CONTROL OR ORGANIZE THE TRANSACTION OR EXCHANGES WHICH ARE TAKING PLACE BETWEEN BUYERS AND SELLERS.
True
False
REDISTRIBUTION IS THE MAJOR ECONOMIC FORCE IN THE INDUSTRIALIZED SOCIETIES OF THE WORLD.
True
False
ECONOMIC INSTITUTION FORMED IN INFORMAL AND FORMAL WAY.
True
False
ECONOMIC INSTITUTION IS A NETWORK OF COMMMERCIAL ORGANIZATION WHO GENERATE DISTRIBUTE, AND PURCHASE OF GOODS AND SERVICES.
True
False
TRANSFER ALSO KNOWN AS TRANSFER EXCHANGE.
True
False
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