Institutional Knowledge Quiz
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Questions and Answers

What does the economic institution of a society provide for its members?

  • Extraction of goods and services
  • Creation of goods and services
  • Distribution of goods and services (correct)
  • Regulation of goods and services

    • What are the necessary parts for the economic system to function properly in a society?

  • Production system, distribution system, consumption system, consumers, system of barter
  • Production system, service system, distribution system, consumers, system of exchange (correct)
  • Production system, demand system, supply system, consumers, system of trade
  • Manufacturing system, distribution system, service system, buyers, system of commerce

    • How does the economic institution influence culture and social stratification?

  • It has no impact on culture and social stratification
  • It influences culture and affects social stratification (correct)
  • It only affects social stratification but not culture
  • It only influences culture but not social stratification

    • What do non-state institutions encompass?

    <p>Groups and organizations</p> Signup and view all the answers

    What is the role of non-state institutions?

    <p>To serve as groups and organizations</p> Signup and view all the answers

    What are the necessary parts for a formal economic system to function properly?

    <p>Production system, service system, distribution system, consumers, system of exchange</p> Signup and view all the answers

    What does the economic institution of a society provide for its members?

    <p>Distribution of goods and services</p> Signup and view all the answers

    How does the economic institution influence culture and affect social stratification?

    <p>By causing socialization and bringing about a distribution of power</p> Signup and view all the answers

    What are non-state institutions?

    <p>Groups and organizations</p> Signup and view all the answers

    What is the role of non-state institutions?

    <p>Analyze organizations and identify one’s role in social groups and institution</p> Signup and view all the answers

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