This quiz works best with JavaScript enabled. Home > Institutions > General > Economic Institutions – Quiz 2 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Institutions Quiz 2 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is owned by stockholders and operated for profit? A) Commercial Bank. B) Mutual Savings Bank. C) Credit Union. D) Savings and loan association. Show Answer Correct Answer: A) Commercial Bank. 2. Which of the following statements is not correct? A) Both the IMF & IBRD have headquarters in Washington. B) India's vote share in the International Monetary Fund is 10%. C) IBRD is known as World Bank also. D) Both IMF & World Bank are the known as the Bretton Woods twins. Show Answer Correct Answer: B) India's vote share in the International Monetary Fund is 10%. 3. Piece of ownership in a company, mutual fund or other investment A) Share/stock. B) 401K. C) Bond. D) None of above. Show Answer Correct Answer: A) Share/stock. 4. He identified the 3 forms of reciprocity. A) Clifford Geertz. B) George Murdock. C) Marshall Sahlins. D) Fredrick Barth. Show Answer Correct Answer: C) Marshall Sahlins. 5. The environmental lobby best exemplifies a(n) ..... A) Public policy. B) Mass media influence. C) Interest group. D) Power of the voting public. Show Answer Correct Answer: C) Interest group. 6. A direct exchange of goods or services A) Transfer. B) Redistribution. C) Market transactions. D) Reciprocity. Show Answer Correct Answer: D) Reciprocity. 7. The factors of production are owned by the government, which regulates economic activity. A) Socialism. B) Capitalism. C) Buddhism. D) Anarchy. Show Answer Correct Answer: A) Socialism. 8. Which financial institution is owned by its members? A) Financial service company. B) Savings and loan association. C) Commercial bank. D) Credit union. Show Answer Correct Answer: D) Credit union. 9. What country was the center of European trading in the 11th century? A) Greece. B) England. C) France. D) Italy. Show Answer Correct Answer: D) Italy. 10. How much is each depositor insured for in a commercial savings account? A) $ 50, 000. B) $ 100, 000. C) $ 200, 000. D) $ 250, 000. Show Answer Correct Answer: D) $ 250, 000. 11. 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. A) Reciprocity. B) Transfers. C) Market Transactions. D) Redistribution. Show Answer Correct Answer: D) Redistribution. 12. The role of the World Trade Organisation (WTO) is A) To reduce poverty. B) To develop trade in more developed countries. C) To develop trade restrictions. D) To liberalise international trade. Show Answer Correct Answer: D) To liberalise international trade. 13. Type of loan that was created for purchasers to be able to make home ownership more attainable. A) Loans. B) Debt. C) Contract. D) Mortgage. Show Answer Correct Answer: D) Mortgage. 14. A very important non-state institution that regulates the flow of the people's flow of money. A) Cooperatives. B) Corporations. C) International Organizations. D) Banks. Show Answer Correct Answer: D) Banks. 15. Which is an exanple of social institutions A) Bank. B) University. C) Supermarket. D) None of above. Show Answer Correct Answer: B) University. 16. Provides the distribution of goods and services to the members of the society. A) State. B) Economic Institution. C) Redistribution. D) Reciprocity. Show Answer Correct Answer: B) Economic Institution. 17. Money advanced to a business with an interest charge that must be paid and returned at some point in the future. A) Purchases. B) Mortgage. C) Debt. D) Loans. Show Answer Correct Answer: D) Loans. 18. 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. A) International Organizations. B) Trade Unions. C) Development Agencies. D) Corporations. Show Answer Correct Answer: B) Trade Unions. 19. When was World Bank established? A) Dec 1945. B) Mar 1947. C) Apr 1945. D) Jan 1947. Show Answer Correct Answer: A) Dec 1945. 20. 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? A) Title Pawn. B) Payday Lender. C) Bank. D) Credit Union. Show Answer Correct Answer: D) Credit Union. ← PreviousNext →Related QuizzesInstitutions QuizzesEconomic Institutions Quiz 1Economic Institutions Quiz 3Economic Institutions Quiz 4Economic Institutions Quiz 5Economic Institutions Quiz 6 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books