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Economic Institutions Quiz 2 (30 MCQs)

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1. A central authority usually has the privilege and responsibility to make decisions about the goods or money later will be reallocated among the group as a whole.
2. The role of the World Trade Organisation (WTO) is
3. Type of loan that was created for purchasers to be able to make home ownership more attainable.
4. A very important non-state institution that regulates the flow of the people's flow of money.
5. Which is an exanple of social institutions
6. Provides the distribution of goods and services to the members of the society.
7. Money advanced to a business with an interest charge that must be paid and returned at some point in the future.
8. Are organized by workers and laborers for members to share mutual benefit. One of the major goals of labor unions is to achieve improved working conditions of a certain country's labor force.
9. When was World Bank established?
10. Brooke is smart, financially stable, and is looking for a loan that offers a low interest rate and not much risk. Where should she apply for a loan at?
11. The word "bank" originally comes from a word meaning
12. Which of the following people works in the primary sector?
13. An economy usually experiences periods of booms and recessions. A period of recession usually results in unemployment. This is specifically
14. How much is each depositor insured for in a credit union?
15. System of roles and norms that governs the production, distribution, and consumption of goods and services
16. A situation where there are two sectors of an economy are at different levels of development and where one is significantly more technologically advanced than the other is called
17. Payment made for the use of borrowed money is called
18. It occurs when an action that has a negative effect upon someone else is reciprocated with an action that has approximately equal negative effect upon another.
19. Welfare, financial aid, social security, and government making subsidies for certain businesses are some of the examples of what?
20. Which New Deal Program helped people trust banks again? It insures peoples' money in a bank up to $ 250, 000.
21. The value of Special Drawing Right (SDR) is determined by the basket of ..... currencies.
22. The following are the major actors of Transnational Advocacy Groups EXCEPT
23. During a beginning study of sociology, it is appropriate to think of politics as the exercise of power and economics as the distribution of
24. Title Pawn Lenders and Payday Lenders are referred to as ..... because they prey on people who have bad credit and cannot secure a loan from a reputable financial institution.
25. Which of the following effects is the LEAST LIKELY to occur from high levels of unemployment?
26. Persons or institutions to whom money is owed
27. Which of the following is not the objective of the WTO?
28. They deal with money or with the production and distribution of the goods and services in an economy.
29. NAFTA is considered a trading bloc. The MAIN aim is to
30. Buyer and seller interact with one another to exchange goods for an amount of money.
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