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

10 Questions2 MinutesCreated by ThinkingEconomist42

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

Economic Institution

Explore Economic Institutions: A Quiz

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