Sociology quiz 12 – Flashcards

Adam Smith argues that money is inherently social because: a. it requires an employment relationship between an employer and employee b. it requires complex social and government institutions to ensure that markets work properly c. any and all economic exchange requires two partners d. economic activity involves cooperation and even collusion among many participants

What effect did the agricultural revolution in Europe have on the transition to capitalism? a. It slowed down the development of capitalism b. It helped capitalism develop c. It occurred thousands of years before capitalism and was unrelated d. It kept the capitalist economies of some countries underdeveloped

According to the textbook, in a capitalist system, the price and distribution of goods and services are determined by what? a. number of workers b. monetization c. location 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: a. individuals are focused on their own issues and do not realize the chaos around them b. individuals self-interest in an environment of others acting similarly will lead to a situation of competition c. individuals will strive to make their contribution stand out d. individuals compete with people they know but feel strangers are no threat in the business world

What is one advantage of piecework payment over in-kind payment? a. the payment is not personal b. the wage is not tied to the quality of the item produced c. the worker can do whatever he wants with the cash d. the worker is paid in items that he needs for survival

Under feudalism, what is one of the major resources exchanged among lords, casuals, and serfs? a. money b. authority c. land d. protection

Marx described workers as being alienated from: a. the process of production b. other people c. themselves 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 b. could be sold c. did not have to give the lord any of their earnings d. could be traded to other lords

The dominant economic system before the agricultural revolution was: a. the enclosure movement b. the feudal system c. the post-industrial revolution d. the service sector

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: a. the cotton gin and distiller b. the power loom and steam engine c. the telephone and telegraph d. motorcars and tractors

Georg Simmel saw the development of monetary payment system as part of a historical evolution leading to: a. depersonalization of exchange b. treating humans like animals c. a communistic society d. bringing the working class and elites together

The good thing about a salary, according to Simmel, is that: a. you are always paid higher than a wage earner b. it is the same as piecework payment: so one can barter to get a higher wage c. workers still get paid, even if the electricity goes out for the day and no work gets done d. it lasts long after a person has retired

Offshoring occurs when firms: a. contract some of their work out to independent foreign companies b. move all or part of their operations abroad to developing nations c. actively scan foreign markets for new places to sell goods and services d. transfer high-level executives abroad to be closer to production

In contrast to Simmel, Karl Marx believed that friendship under capitalism is not possible because: a. all relationships become market relationships b. everyone becomes too lazy c. people care too much about others d. people forget how to communicate

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? a. Karl Marx b. Georg Simmel c. Adam Smith 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 b. there is a clear line between work and family life c. the pervious president liked to eat out rather than in the White House d. there are more state dinners now than before

Globalization in the twenty-first century is characterized by: a. the movement of labor across the world quickly and efficiently to those places it is most needed b. the rise of the West, with U.S. and European financial centers donating global trade c. the emergence of new markets, new means of exchange, new players, and new rules that are intensifying worldwide interdependencies d. rising equality around the world

The global distribution of wealth is referred to as a "champagne glass discussion" because: a. in the global economy, the best workers, products, and innovations bubble to the top b. only a few people are able tot afford the expensive luxury items that are popular in the global economy c. the top 5 percent of global adults own more than one-third of the world's health d. the economy is fragile and could shatter at any time

In the United States, corporations share many of the same rights as individuals, except corporations: a. can't own property b. can't enter into contracts c. can't vote d. can't be sued

Some people consider operations to be "psychotic" because corporations: a. routinely kill employees in the name of consensus b. maintain long-term relationships even when they are harmful c. have multiple personalities 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 cost b. flooding the market c. making charity contributions d. supporting labor unions

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: a. sweatshop labor b. offshoring c. migrant labor d. developing

A union allows workers to join together to promote their: a. organizing b. negotiations c. arbitrage d. collective interests

How would you describe recent relations between employers and unions? a. employers embrace unions b. employers tolerate unions c. employers actively try to undermine unions d. employers have eliminated unions

________ trade agreements, such as NAFTA, encourage business at a regional or worldwide level a. unilateral b. bilateral c. multilateral d. polylateral