Theories of Work and Economy: Explore Key Perspectives in Sociology

Question 1

According to Marxist theory, what characterizes capitalism?

Accepted Answer

Private ownership of the means of production

Answer

Emphasis on social equality

Answer

Dominant role of government in the economy

Answer

High level of technological advancement

Question 2

Which approach best exemplifies the institutionalist perspective in economics?

Accepted Answer

Analyzing how societal values and norms influence economic behavior

Answer

Employing mathematical models to predict economic outcomes

Answer

Advocating for a limited government role in economic affairs

Answer

Prioritizing individual rationality and self-interest

Question 3

Classical economic theory suggests that wages are primarily determined by:

Accepted Answer

The interplay of supply and demand

Answer

Government regulations

Answer

Technological advancements

Answer

Education levels of the workforce

Question 4

In Marx's theory, which social class was predicted to overthrow the capitalist system?

Accepted Answer

The proletariat

Answer

The bourgeoisie

Answer

The peasantry

Answer

The middle class

Question 5

According to institutionalist economics, what is the primary purpose of economic institutions?

Accepted Answer

Reducing uncertainty and transaction costs

Answer

Promoting social mobility

Answer

Redistributing wealth and income

Answer

Protecting property rights

Question 6

In Karl Marx's theory of class conflict, what is the main contradiction within capitalism?

Accepted Answer

The conflict between the interests of the bourgeoisie (capitalists) and the proletariat (working class)

Answer

The conflict between supply and demand

Answer

The conflict between urban and rural areas

Answer

The conflict between humans and the environment

Question 7

According to Marxist theory, what is the primary cause of social conflict?

Accepted Answer

Unequal distribution of wealth and resources

Answer

Competition for scarce resources

Answer

Differences in cultural values

Answer

Conflicts based on religious beliefs

Question 8

According to classical economics, the primary factor determining a worker's wage is their:

Accepted Answer

Marginal productivity

Answer

Skill level

Answer

Demand for their labor

Answer

Cost of living

Question 9

Adam Smith argued that the division of labor primarily leads to:

Accepted Answer

Increased efficiency and productivity

Answer

Growing social inequality

Answer

Reduced worker morale

Answer

Slower economic growth

Question 10

Institutionalism assumes that:

Accepted Answer

Economic systems evolve over time

Answer

Economic behavior is always rational and self-interested

Answer

Markets are always perfectly competitive

Answer

Government intervention in the economy is invariably harmful

Question 11

Karl Marx predicted that the development of capitalism would ultimately lead to a:

Accepted Answer

Socialist revolution

Answer

Global financial crisis

Answer

Permanent dictatorship of the proletariat

Answer

More equitable distribution of wealth

Question 12

Institutionalism emphasizes the importance of:

Accepted Answer

Social and cultural norms

Answer

Individual preferences

Answer

Government policies

Answer

Technological advancements

Question 13

Which fundamental principle of classical economics asserts that the value of a commodity is determined by the labor required to produce it?

Accepted Answer

Labor Theory of Value

Answer

Law of Supply and Demand

Answer

Marginal Utility Theory

Answer

Keynesian Economics

Question 14

According to Marxist theory, what is the primary factor responsible for surplus value?

Accepted Answer

Exploitation of labor

Answer

Profit maximization

Answer

Technological advancements

Answer

Government subsidies

Question 15

What is a major criticism of functionalist theories of work?

Accepted Answer

They ignore the significance of conflict and power dynamics in work organizations.

Answer

They overemphasize the role of cooperation in the workplace.

Answer

They assume that all workers share identical interests and goals.

Answer

They are based on outdated assumptions about human behavior.

Question 16

How has globalization impacted the division of labor?

Accepted Answer

It has increased the division of labor both within and between countries.

Answer

It has decreased the division of labor within countries but increased it between countries.

Answer

It has had minimal impact on the division of labor.

Answer

It has decreased the division of labor both within and between countries.

Question 17

What is the central argument of the theory of relative deprivation?

Accepted Answer

People's satisfaction with their lives depends on their economic status relative to others in society.

Answer

People's satisfaction with their lives depends solely on their absolute income.

Answer

People's satisfaction with their lives depends primarily on their social class.

Answer

People's satisfaction with their lives is not influenced by external factors.

Question 18

Which assumption is NOT a fundamental principle of classical economics?

Accepted Answer

Government intervention is crucial for economic prosperity.

Answer

Individuals act rationally and prioritize their own interests.

Answer

The economy has an inherent ability to self-regulate and reach a balanced state.

Answer

Labor is treated as a commodity that can be bought and sold.

Question 19

In Karl Marx's theory, which class is seen as the primary exploiter of workers?

Accepted Answer

The capitalist class

Answer

The working class

Answer

The petty bourgeoisie

Answer

The lumpenproletariat

Question 20

According to Karl Marx, what is the main source of social conflict?

Accepted Answer

The struggle between different social classes.

Answer

The struggle between different ethnic or racial groups.

Answer

The struggle between different political ideologies.

Answer

The struggle between individuals for limited resources.

Question 21

How does institutionalism differ from other economic theories in its approach to social change?

Accepted Answer

It emphasizes the role of gradual reform over revolutionary change.

Answer

It advocates for a decentralized approach to economic planning.

Answer

It rejects the idea that social change is possible.

Answer

It focuses on the importance of individualistic solutions to social problems.

Question 22

How does Marxist theory explain the relationship between capitalism and inequality?

Accepted Answer

Capitalism inevitably leads to greater inequality due to the exploitation of workers.

Answer

Inequality is caused by government intervention in the economy.

Answer

Inequality is a necessary evil for economic growth.

Answer

Inequality is not a significant problem under capitalism.

Question 23

How does the concept of 'social capital' relate to economic development?

Accepted Answer

It refers to the networks and relationships that facilitate economic activity.

Answer

It measures the amount of money invested in education.

Answer

It is a measure of the overall level of trust in a society.

Answer

It describes the physical infrastructure of a country.

Question 24

In Marx's theory of capitalism, what is referred to as the 'reserve army of labor'?

Accepted Answer

Unemployed individuals who can be readily employed when needed

Answer

Highly skilled workers who are crucial for economic growth

Answer

Business owners and managers who own the means of production

Answer

Workers who are subjected to exploitation by the capitalist class

Question 25

Which of the following is not a central concept in Marxist theory?

Accepted Answer

Bureaucracy

Answer

Exploitation

Answer

Alienation

Answer

Class struggle

Question 26

According to Marx, what is the inherent nature of the capitalist system?

Accepted Answer

Exploitative and oppressive

Answer

Stable and harmonious

Answer

Efficient and productive

Answer

Democratic and egalitarian

Question 27

What is a consequence of alienation, as described by Marx?

Accepted Answer

Workers feel disconnected from their work

Answer

Workers become more productive

Answer

Workers become more loyal to their employer

Answer

Workers develop a stronger sense of community

Question 28

Institutionalism views the economy as primarily:

Accepted Answer

A system influenced by formal organizations

Answer

A self-regulating system

Answer

A system driven by individual self-interest

Answer

A system in constant flux

Question 29

Which fundamental principle underpins classical economics?

Accepted Answer

Individuals rationally pursue their own economic self-interest.

Answer

The economy naturally tends towards equilibrium.

Answer

Government intervention is crucial for economic stability.

Question 30

Institutionalism, as an economic theory, emphasizes the:

Accepted Answer

Influence of social institutions in shaping economic behaviors and outcomes.

Answer

Self-regulating nature of the free market.

Answer

Distribution of wealth and income levels.

Question 31

Feminist economics critiques traditional economic models for:

Accepted Answer

Undervaluing women's work and perpetuating gender inequalities.

Answer

Ensuring economic efficiency.

Answer

Having no impact on gender relations.

Question 32

In economic sociology, 'social capital' refers to:

Accepted Answer

The networks and resources individuals and groups access through their social connections.

Answer

The value of physical assets owned by a society.

Answer

The amount of money individuals have in savings.

Question 33

A defining characteristic of the global economy is:

Accepted Answer

Increased interconnectedness and interdependence among countries.

Answer

Trade occurring exclusively between developed nations.

Answer

National economies becoming increasingly isolated.

Question 34

'Precarity' in labor markets refers to:

Accepted Answer

Workers experiencing unstable and insecure employment conditions.

Answer

Workers facing discrimination in the workplace.

Answer

Workers being paid below the minimum wage.

Question 35

A potential impact of technological advancements in the workplace is:

Accepted Answer

Job displacement and the need for workers to acquire new skills.

Answer

Guaranteed job security and higher wages for all workers.

Answer

A complete elimination of the need for human labor.

Question 36

Which of the following is a fundamental assumption of classical economics?

Accepted Answer

Individuals are rational and self-interested in their economic decisions.

Answer

Government intervention is necessary to prevent market failures.

Answer

Social class plays a significant role in determining economic outcomes.

Answer

The economy is inherently unstable and requires government intervention.

Question 37

According to Marxist theory, what is the primary source of class conflict in capitalist societies?

Accepted Answer

Differential access to and ownership of the means of production.

Answer

Discrimination based on race or gender.

Answer

Differences in education and skill levels.

Answer

Government policies that favor certain groups.

Question 38

Which of the following best describes a key characteristic of institutionalism?

Accepted Answer

Emphasizes the influence of social institutions and cultural factors on economic behavior.

Answer

Advocates for a free market economy with minimal government intervention.

Answer

Rejects the concept of class conflict and social inequality.

Question 39

According to classical economists, the most effective means of promoting economic growth is:

Accepted Answer

Encouraging free markets and implementing laissez-faire policies.

Answer

Redistributing wealth and resources more equally.

Answer

Investing heavily in social welfare programs.

Answer

Increasing government regulation and intervention in the economy.

Question 40

Institutionalists argue that economic inequality is primarily caused by:

Accepted Answer

Power imbalances and unequal access to resources among different social groups.

Answer

Government taxation policies that favor the wealthy.

Answer

Genetic or biological differences between individuals.

Answer

Inadequate access to education and training opportunities.

Question 41

According to classical economic theory, what is the primary role of government in the economy?

Accepted Answer

To uphold property rights, enforce contracts, and provide a stable legal framework.

Answer

To provide social welfare programs and redistribute wealth.

Answer

To actively regulate the economy and promote competition.

Answer

To intervene in markets to correct failures.

Question 42

Which of the following is considered a strength of the institutionalist perspective?

Accepted Answer

Its recognition of the importance of context and the influence of social institutions on economic behavior.

Answer

Its comprehensive explanation of all economic phenomena.

Answer

Its ability to generate precise and testable hypotheses.

Question 43

According to Marxist theory, the ultimate aim of the theory is:

Accepted Answer

To analyze and ultimately overthrow capitalism, establishing a classless society.

Answer

To provide a purely scientific understanding of economic processes.

Answer

To reform capitalism and reduce economic inequality.