Economic Sociology and History

Description: Economic Sociology and History Quiz
Number of Questions: 15
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Tags: economic sociology history economics
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Which of the following is NOT a key concept in economic sociology?

  1. Social stratification

  2. Economic inequality

  3. Rational choice theory

  4. Social networks


Correct Option: C
Explanation:

Rational choice theory is a microeconomic concept that assumes individuals make decisions based on their own self-interest. It is not a key concept in economic sociology, which focuses on the social and cultural factors that shape economic behavior.

What is the main focus of economic history?

  1. The development of economic institutions

  2. The role of technology in economic growth

  3. The impact of economic policies on society

  4. All of the above


Correct Option: D
Explanation:

Economic history is the study of the development of economic systems and institutions over time. It encompasses the study of the role of technology in economic growth, the impact of economic policies on society, and the evolution of economic thought.

Which of the following is NOT a major school of thought in economic history?

  1. The Marxist school

  2. The neoclassical school

  3. The institutionalist school

  4. The behavioral school


Correct Option: D
Explanation:

The behavioral school is not a major school of thought in economic history. The Marxist school, the neoclassical school, and the institutionalist school are all major schools of thought that have shaped the field of economic history.

What is the main argument of the Marxist school of economic history?

  1. That capitalism is a system of exploitation

  2. That the economy is determined by the class struggle

  3. That the state is a tool of the capitalist class

  4. All of the above


Correct Option: D
Explanation:

The Marxist school of economic history argues that capitalism is a system of exploitation, that the economy is determined by the class struggle, and that the state is a tool of the capitalist class.

What is the main argument of the neoclassical school of economic history?

  1. That the economy is self-regulating

  2. That individuals are rational actors

  3. That markets are efficient

  4. All of the above


Correct Option: D
Explanation:

The neoclassical school of economic history argues that the economy is self-regulating, that individuals are rational actors, and that markets are efficient.

What is the main argument of the institutionalist school of economic history?

  1. That institutions play a key role in economic development

  2. That the economy is not self-regulating

  3. That individuals are not always rational actors

  4. All of the above


Correct Option: D
Explanation:

The institutionalist school of economic history argues that institutions play a key role in economic development, that the economy is not self-regulating, and that individuals are not always rational actors.

Which of the following is NOT a major economic institution?

  1. The market

  2. The firm

  3. The government

  4. The family


Correct Option: D
Explanation:

The family is not a major economic institution. The market, the firm, and the government are all major economic institutions.

What is the main function of the market?

  1. To allocate resources

  2. To determine prices

  3. To facilitate exchange

  4. All of the above


Correct Option: D
Explanation:

The main function of the market is to allocate resources, determine prices, and facilitate exchange.

What is the main function of the firm?

  1. To produce goods and services

  2. To make a profit

  3. To create jobs

  4. All of the above


Correct Option: D
Explanation:

The main function of the firm is to produce goods and services, make a profit, and create jobs.

What is the main function of the government?

  1. To provide public goods and services

  2. To regulate the economy

  3. To redistribute income

  4. All of the above


Correct Option: D
Explanation:

The main function of the government is to provide public goods and services, regulate the economy, and redistribute income.

Which of the following is NOT a major economic policy tool?

  1. Fiscal policy

  2. Monetary policy

  3. Trade policy

  4. Industrial policy


Correct Option: D
Explanation:

Industrial policy is not a major economic policy tool. Fiscal policy, monetary policy, and trade policy are all major economic policy tools.

What is the main goal of fiscal policy?

  1. To stabilize the economy

  2. To promote economic growth

  3. To redistribute income

  4. All of the above


Correct Option: D
Explanation:

The main goal of fiscal policy is to stabilize the economy, promote economic growth, and redistribute income.

What is the main goal of monetary policy?

  1. To stabilize the economy

  2. To promote economic growth

  3. To control inflation

  4. All of the above


Correct Option: D
Explanation:

The main goal of monetary policy is to stabilize the economy, promote economic growth, and control inflation.

What is the main goal of trade policy?

  1. To protect domestic industries

  2. To promote economic growth

  3. To improve the terms of trade

  4. All of the above


Correct Option: D
Explanation:

The main goal of trade policy is to protect domestic industries, promote economic growth, and improve the terms of trade.

Which of the following is NOT a major economic problem?

  1. Unemployment

  2. Inflation

  3. Poverty

  4. Climate change


Correct Option: D
Explanation:

Climate change is not a major economic problem. Unemployment, inflation, and poverty are all major economic problems.

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